Newpark Resources, Inc. (NYSE:NR) Receives Consensus Recommendation of “Buy” from Analysts

Newpark Resources, Inc. (NYSE:NR) has received an average recommendation of “Buy” from the four brokerages that are currently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a buy rating. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.00.

A number of brokerages recently issued reports on NR. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research note on Monday, November 11th.

Newpark Resources Price Performance

NR stock opened at $7.94 on Friday. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. The stock has a market cap of $686.79 million, a price-to-earnings ratio of -4.34 and a beta of 2.92. The business has a fifty day moving average of $7.37 and a two-hundred day moving average of $7.65.

Institutional Trading of Newpark Resources

Hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in Newpark Resources by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,521 shares of the oil and gas company’s stock valued at $250,000 after purchasing an additional 3,232 shares during the period. CWM LLC boosted its stake in shares of Newpark Resources by 114.5% in the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 5,193 shares during the period. Riverwater Partners LLC grew its position in shares of Newpark Resources by 5.0% during the second quarter. Riverwater Partners LLC now owns 79,028 shares of the oil and gas company’s stock worth $657,000 after buying an additional 3,774 shares in the last quarter. Catalina Capital Group LLC increased its stake in shares of Newpark Resources by 10.6% during the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after buying an additional 1,360 shares during the period. Finally, Calamos Advisors LLC purchased a new stake in shares of Newpark Resources during the second quarter worth approximately $1,046,000. 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.