Newpark Resources (NYSE:NR) Earns “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Newpark Resources (NYSE:NR) in a report released on Thursday, Benzinga reports. They currently have a $12.00 target price on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS and FY2026 earnings at $0.44 EPS.

Separately, StockNews.com raised Newpark Resources from a hold rating to a buy rating in a report on Sunday, September 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of Buy and an average price target of $11.00.

Newpark Resources Stock Performance

Newpark Resources stock opened at $7.47 on Thursday. The company has a market cap of $636.46 million, a PE ratio of 41.50 and a beta of 2.87. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The company has a fifty day moving average price of $7.79 and a two-hundred day moving average price of $7.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $179.01 million during the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same quarter in the prior year, the firm earned $0.08 EPS. Research analysts expect that Newpark Resources will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NR. CWM LLC lifted its stake in Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 3,775 shares during the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Newpark Resources in the 1st quarter valued at $50,000. Fortitude Family Office LLC boosted its holdings in Newpark Resources by 179.1% in the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 4,751 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Newpark Resources in the fourth quarter worth $67,000. Finally, Perigon Wealth Management LLC acquired a new position in Newpark Resources during the first quarter worth $73,000. 80.81% of the stock is owned by hedge funds and other 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.