Newpark Resources (NYSE:NR) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Newpark Resources (NYSE:NR) from a buy rating to a hold rating in a research report report published on Saturday morning.

Separately, HC Wainwright restated a buy rating and set a $12.00 target price on shares of Newpark Resources in a report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Newpark Resources presently has an average rating of Moderate Buy and an average price target of $11.00.

Newpark Resources Trading Down 1.3 %

NR opened at $7.11 on Friday. Newpark Resources has a fifty-two week low of $5.61 and a fifty-two week high of $8.65. The company has a market cap of $605.36 million, a price-to-earnings ratio of 39.00 and a beta of 2.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The firm has a 50 day simple moving average of $7.86 and a 200 day simple moving average of $7.62.

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, beating the consensus estimate of $0.08 by $0.04. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The company had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. During the same quarter in the previous year, the company posted $0.08 EPS. On average, sell-side analysts anticipate that Newpark Resources will post 0.36 earnings per share for the current year.

Institutional Investors Weigh In On Newpark Resources

Several large investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its holdings in shares of Newpark Resources by 60.4% in the fourth quarter. Russell Investments Group Ltd. now owns 166,492 shares of the oil and gas company’s stock valued at $1,106,000 after buying an additional 62,705 shares during the period. Victory Capital Management Inc. acquired a new position in Newpark Resources in the 4th quarter worth $67,000. Swiss National Bank bought a new position in Newpark Resources during the 4th quarter worth about $1,079,000. M&T Bank Corp raised its stake in shares of Newpark Resources by 97.1% in the 4th quarter. M&T Bank Corp now owns 151,520 shares of the oil and gas company’s stock valued at $1,006,000 after purchasing an additional 74,639 shares during the period. Finally, National Bank of Canada FI bought a new stake in shares of Newpark Resources in the fourth quarter valued at about $59,000. 80.81% of the stock is currently owned by 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.