StockNews.com Lowers Newpark Resources (NYSE:NR) to Hold

StockNews.com cut shares of Newpark Resources (NYSE:NR) from a buy rating to a hold rating in a research report report published on Monday.

Separately, HC Wainwright reissued a buy rating and issued a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $11.00.

Newpark Resources Stock Performance

NR opened at $6.81 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The business has a fifty day simple moving average of $7.71 and a 200 day simple moving average of $7.67. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65. The company has a market capitalization of $588.86 million, a PE ratio of 37.84 and a beta of 2.87.

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

Institutional Investors Weigh In On Newpark Resources

A number of large investors have recently bought and sold shares of the company. CWM LLC lifted its stake in Newpark Resources by 495.4% during the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares during the last quarter. New York State Teachers Retirement System acquired a new position in shares of Newpark Resources during the 1st quarter worth $50,000. Fortitude Family Office LLC lifted its position in shares of Newpark Resources by 179.1% during the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after buying an additional 4,751 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Newpark Resources in the fourth quarter valued at about $67,000. Finally, Perigon Wealth Management LLC bought a new position in Newpark Resources in the first quarter valued at about $73,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Newpark Resources Company Profile

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.