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

Newpark Resources, Inc. (NYSE:NR) has been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have covered the stock in the last year is $11.00.

Several brokerages recently issued reports on NR. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd.

Institutional Investors Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ironwood Investment Management LLC increased its holdings in shares of Newpark Resources by 1.0% during the 2nd quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock valued at $1,209,000 after purchasing an additional 1,442 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Newpark Resources by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 4,255 shares during the period. Marathon Capital Management increased its holdings in Newpark Resources by 1.1% in the second quarter. Marathon Capital Management now owns 266,175 shares of the oil and gas company’s stock valued at $2,212,000 after buying an additional 3,025 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Newpark Resources by 12.3% in the second quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company’s stock worth $5,401,000 after acquiring an additional 71,073 shares during the period. Finally, Marshall Wace LLP raised its position in shares of Newpark Resources by 24.0% in the second quarter. Marshall Wace LLP now owns 74,761 shares of the oil and gas company’s stock worth $621,000 after acquiring an additional 14,466 shares during the period. 80.81% of the stock is owned by institutional investors and hedge funds.

Newpark Resources Stock Performance

Shares of Newpark Resources stock opened at $6.92 on Friday. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65. The company has a market capitalization of $589.60 million, a PE ratio of 38.44 and a beta of 2.87. The stock’s fifty day moving average is $7.68 and its two-hundred day moving average is $7.67. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09.

Newpark Resources (NYSE:NR) last issued its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $179.01 million for the quarter, compared to analyst estimates of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same period last year, the company posted $0.08 earnings per share. As a group, analysts expect that Newpark Resources will post 0.36 earnings per share for the current year.

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.