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

Research analysts at StockNews.com initiated coverage on shares of Newpark Resources (NYSE:NR) in a report issued on Tuesday. The brokerage set 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Newpark Resources presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

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

Institutional Trading of Newpark Resources

Several institutional investors and hedge funds have recently made changes to their positions in the stock. EP Wealth Advisors LLC acquired a new position in shares of Newpark Resources in the third quarter valued at approximately $96,000. Captrust Financial Advisors raised its holdings in Newpark Resources by 10.8% in the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 1,430 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Newpark Resources during the 3rd quarter worth $116,000. CWM LLC boosted its holdings in shares of Newpark Resources by 79.3% during the third 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 last quarter. Finally, GSA Capital Partners LLP grew its position in shares of Newpark Resources by 68.1% in the third quarter. GSA Capital Partners LLP now owns 17,618 shares of the oil and gas company’s stock valued at $122,000 after purchasing an additional 7,140 shares during the period. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

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.