Newpark Resources, Inc. (NYSE:NR) Given Average Rating of “Buy” by Analysts

Newpark Resources, Inc. (NYSE:NR) has been given an average recommendation of “Buy” by the four brokerages that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a buy rating. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.00.

Several research firms have recently issued reports on NR. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Monday, November 11th. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd.

Newpark Resources Price Performance

NR opened at $7.63 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The stock has a market capitalization of $659.54 million, a PE ratio of -4.17 and a beta of 2.92. The stock’s 50 day moving average price is $7.39 and its 200-day moving average price is $7.64.

Institutional Investors Weigh In On Newpark Resources

Hedge funds have recently added to or reduced their stakes in the stock. CWM LLC boosted its holdings in Newpark Resources by 114.5% in the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock worth $81,000 after acquiring an additional 5,193 shares in the last quarter. Ground Swell Capital LLC bought a new position in shares of Newpark Resources during the second quarter valued at $91,000. EP Wealth Advisors LLC bought a new position in shares of Newpark Resources during the third quarter valued at $96,000. Catalina Capital Group LLC lifted its holdings in shares of Newpark Resources by 10.6% during the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,360 shares in the last quarter. Finally, Captrust Financial Advisors lifted its holdings in shares of Newpark Resources by 10.8% during 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 in the last quarter. 80.81% of the stock is 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.