StockNews.com Initiates Coverage on Newpark Resources (NYSE:NR)

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

Separately, HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Monday, November 11th. One research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

The company has a fifty day moving average of $7.41 and a 200-day moving average of $7.63. Newpark Resources has a one year low of $5.61 and a one year high of $8.65. The firm has a market capitalization of $627.10 million, a PE 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.

Institutional Investors Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently modified their holdings of the company. M&T Bank Corp boosted its holdings in Newpark Resources by 29.6% during the third quarter. M&T Bank Corp now owns 310,212 shares of the oil and gas company’s stock worth $2,150,000 after buying an additional 70,863 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Newpark Resources by 10.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 2,730 shares during the period. Charles Schwab Investment Management Inc. increased its position in Newpark Resources by 125.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 764,873 shares of the oil and gas company’s stock worth $5,301,000 after purchasing an additional 425,505 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Newpark Resources during the third quarter worth approximately $1,357,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Newpark Resources by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock worth $269,000 after acquiring an additional 4,255 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.