Newpark Resources (NYSE:NR – Free Report) had its price target raised by B. Riley from $10.00 to $11.00 in a research report report published on Monday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock.
Several other equities analysts also recently weighed in on NR. StockNews.com upgraded shares of Newpark Resources from a hold rating to a buy rating in a research note on Friday. Roth Mkm started coverage on shares of Newpark Resources in a research note on Friday, March 8th. They issued a buy rating and a $10.00 target price for the company. HC Wainwright reiterated a buy rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Monday. Finally, Roth Capital reiterated a buy rating on shares of Newpark Resources in a research note on Friday, March 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $11.00.
Newpark Resources Stock Performance
NYSE NR traded up $0.06 during trading hours on Monday, reaching $7.16. 505,051 shares of the company were exchanged, compared to its average volume of 650,117. Newpark Resources has a 1 year low of $3.40 and a 1 year high of $7.84. The business’s 50 day simple moving average is $7.15 and its 200-day simple moving average is $6.86. The company has a quick ratio of 1.74, a current ratio of 2.79 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $610.03 million, a P/E ratio of 40.00 and a beta of 2.78.
Newpark Resources (NYSE:NR – Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. The company had revenue of $167.82 million for the quarter, compared to analysts’ expectations of $170.87 million. On average, equities research analysts expect that Newpark Resources will post 0.3 earnings per share for the current year.
Hedge Funds Weigh In On Newpark Resources
Large investors have recently modified their holdings of the company. Wellington Management Group LLP boosted its position in shares of Newpark Resources by 20.5% in the third quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock valued at $6,048,000 after acquiring an additional 148,700 shares during the period. Assenagon Asset Management S.A. lifted its position in Newpark Resources by 53.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 608,342 shares of the oil and gas company’s stock valued at $4,039,000 after purchasing an additional 212,872 shares during the last quarter. Ritholtz Wealth Management bought a new stake in Newpark Resources during the fourth quarter valued at approximately $450,000. Vanguard Group Inc. lifted its position in Newpark Resources by 4.0% during the third quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock valued at $28,932,000 after purchasing an additional 162,941 shares during the last quarter. Finally, Kennedy Capital Management LLC bought a new stake in Newpark Resources during the third quarter valued at approximately $1,294,000. 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.