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

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

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

Newpark Resources Price Performance

The business’s fifty day simple moving average is $7.41 and its two-hundred day simple moving average is $7.63. The company has a market capitalization of $627.10 million, a PE ratio of 27.89 and a beta of 2.92. Newpark Resources has a 12 month low of $5.61 and a 12 month 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.

Institutional Trading of Newpark Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of NR. State Street Corp boosted its position in shares of Newpark Resources by 3.2% during the third quarter. State Street Corp now owns 2,274,460 shares of the oil and gas company’s stock valued at $15,762,000 after buying an additional 69,802 shares during the last quarter. Royce & Associates LP lifted its stake in Newpark Resources by 2.9% during the 3rd quarter. Royce & Associates LP now owns 2,191,552 shares of the oil and gas company’s stock valued at $15,187,000 after acquiring an additional 61,128 shares in the last quarter. Geode Capital Management LLC lifted its stake in Newpark Resources by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock valued at $13,454,000 after acquiring an additional 154,210 shares in the last quarter. American Century Companies Inc. boosted its holdings in Newpark Resources by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after acquiring an additional 313,451 shares during the last quarter. Finally, Pennant Select LLC grew its stake in shares of Newpark Resources by 65.0% in the 3rd quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company’s stock worth $6,861,000 after acquiring an additional 390,000 shares in the last quarter. Institutional investors own 80.81% of the company’s stock.

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.