Newpark Resources (NYSE:NR) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Newpark Resources (NYSE:NR) from a hold rating to a buy rating in a research note issued to investors on Sunday.

Separately, HC Wainwright reaffirmed a buy rating and issued a $12.00 target price on shares of Newpark Resources in a report on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Newpark Resources currently has an average rating of Buy and an average price target of $11.00.

Newpark Resources Stock Up 1.8 %

Newpark Resources stock opened at $7.48 on Friday. The firm has a market capitalization of $636.88 million, a P/E ratio of 41.53 and a beta of 2.87. The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65. The stock’s fifty day simple moving average is $7.80 and its 200-day simple moving average is $7.65.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same period in the previous year, the firm posted $0.08 EPS. As a group, equities analysts expect that Newpark Resources will post 0.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds and other institutional investors have recently made changes to their positions in NR. Catalina Capital Group LLC raised its stake in Newpark Resources by 10.6% during the 2nd quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after acquiring an additional 1,360 shares in the last quarter. Ironwood Investment Management LLC increased its position in shares of Newpark Resources by 1.0% during the second quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock worth $1,209,000 after purchasing an additional 1,442 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Newpark Resources by 8.1% in the 1st quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock valued at $155,000 after purchasing an additional 1,604 shares during the last quarter. Marathon Capital Management lifted its holdings in shares of Newpark Resources by 1.1% in the 2nd quarter. Marathon Capital Management now owns 266,175 shares of the oil and gas company’s stock valued at $2,212,000 after purchasing an additional 3,025 shares during the last quarter. Finally, Riverwater Partners LLC boosted its position in shares of Newpark Resources by 4.4% in the 1st quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock valued at $543,000 after purchasing an additional 3,140 shares during the period. Institutional investors and hedge funds own 80.81% of the company’s stock.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.