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

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

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Newpark Resources has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

The company has a 50 day moving average price of $7.41 and a 200 day moving average price of $7.63. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The stock has a market cap of $627.10 million, a P/E ratio of 27.89 and a beta of 2.92.

Hedge Funds Weigh In On Newpark Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. EP Wealth Advisors LLC acquired a new position in shares of Newpark Resources in the 3rd quarter valued at $96,000. Captrust Financial Advisors raised its position in Newpark Resources by 10.8% in the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,430 shares in the last quarter. SG Americas Securities LLC bought a new position in Newpark Resources during the third quarter worth about $116,000. CWM LLC boosted its holdings in Newpark Resources by 79.3% during the third quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 7,713 shares in the last quarter. Finally, GSA Capital Partners LLP grew its stake in shares of Newpark Resources by 68.1% in the 3rd 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 institutional investors.

Newpark Resources Company Profile

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.