Newpark Resources (NYSE:NR) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Newpark Resources (NYSE:NR) in a research note issued to investors on Sunday. The brokerage issued a hold rating on the oil and gas company’s stock.

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

Newpark Resources Stock Performance

Newpark Resources has a 1-year low of $5.61 and a 1-year high of $8.65. The stock has a market cap of $627.10 million, a P/E ratio of 27.89 and a beta of 2.92. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $7.41 and a 200-day simple moving average of $7.63.

Hedge Funds Weigh In On Newpark Resources

Hedge funds have recently bought and sold shares of the stock. Ground Swell Capital LLC acquired a new stake in Newpark Resources during the second quarter worth about $91,000. EP Wealth Advisors LLC purchased a new position in Newpark Resources in the third quarter valued at about $96,000. Captrust Financial Advisors boosted its holdings 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 purchasing an additional 1,430 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Newpark Resources during the third quarter valued at approximately $116,000. Finally, CWM LLC raised its position in shares of Newpark Resources by 79.3% during the 3rd quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock worth $121,000 after purchasing an additional 7,713 shares during the period. Hedge funds and other institutional investors 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.