Newpark Resources (NYSE:NR) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Newpark Resources (NYSE:NR) in a research report issued on Saturday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

The firm has a market cap of $627.10 million, a PE ratio of 27.89 and a beta of 2.92. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The company has a 50 day moving average price of $7.41 and a two-hundred day moving average price of $7.63.

Institutional Trading of Newpark Resources

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ground Swell Capital LLC acquired a new position in Newpark Resources in the second quarter valued at about $91,000. EP Wealth Advisors LLC acquired a new stake in Newpark Resources during the 3rd quarter worth approximately $96,000. Captrust Financial Advisors lifted its stake in Newpark Resources by 10.8% in the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 1,430 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Newpark Resources in the third quarter valued at approximately $116,000. Finally, CWM LLC increased its position in shares of Newpark Resources by 79.3% during the third quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock worth $121,000 after acquiring an additional 7,713 shares in the last quarter. 80.81% of the stock is owned by institutional investors.

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.