StockNews.com Upgrades Newpark Resources (NYSE:NR) to “Buy”

Newpark Resources (NYSE:NR) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Sunday.

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

Newpark Resources Trading Up 3.1 %

NYSE:NR opened at $7.34 on Friday. The company has a market capitalization of $625.38 million, a P/E ratio of 40.78 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. The firm has a fifty day simple moving average of $7.79 and a 200-day simple moving average of $7.65. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65.

Newpark Resources (NYSE:NR) last posted its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $179.01 million for 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 last year, the firm earned $0.08 EPS. On average, equities research analysts anticipate that Newpark Resources will post 0.36 earnings per share for the current year.

Hedge Funds Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in Newpark Resources by 495.4% in the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 3,775 shares in the last quarter. New York State Teachers Retirement System acquired a new position in Newpark Resources in the 1st quarter valued at $50,000. Fortitude Family Office LLC lifted its stake 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 purchasing an additional 4,751 shares during the period. National Bank of Canada FI acquired a new stake in shares of Newpark Resources during the fourth quarter worth $59,000. Finally, Victory Capital Management Inc. purchased a new stake in shares of Newpark Resources in the fourth quarter valued at $67,000. 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.