Newpark Resources, Inc. (NYSE:NR) Receives Average Rating of “Buy” from Brokerages

Shares of Newpark Resources, Inc. (NYSE:NR) have received a consensus recommendation of “Buy” from the four analysts that are presently covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a buy rating. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $11.00.

A number of equities analysts recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd.

Institutional Investors Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. raised its stake in shares of Newpark Resources by 210.2% during the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares in the last quarter. Bleakley Financial Group LLC raised its position in Newpark Resources by 8.1% during the first quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock valued at $155,000 after acquiring an additional 1,604 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Newpark Resources by 161.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock valued at $2,327,000 after acquiring an additional 199,066 shares during the last quarter. Roubaix Capital LLC grew its position in Newpark Resources by 43.7% in the first quarter. Roubaix Capital LLC now owns 622,965 shares of the oil and gas company’s stock worth $4,498,000 after acquiring an additional 189,333 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co bought a new stake in Newpark Resources in the first quarter worth approximately $378,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Price Performance

NR stock opened at $6.99 on Monday. Newpark Resources has a one year low of $5.61 and a one year high of $8.65. The firm has a 50-day moving average of $7.07 and a two-hundred day moving average of $7.59. The firm has a market capitalization of $604.64 million, a PE ratio of -3.82 and a beta of 2.87. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02.

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.