Newpark Resources (NYSE:NR) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Newpark Resources (NYSE:NR) from a hold rating to a buy rating in a research report sent to investors on Friday morning.

Several other equities analysts have also recently issued reports on NR. B. Riley started coverage on shares of Newpark Resources in a research report on Tuesday, April 9th. They issued a buy rating and a $10.00 price target for the company. TheStreet lowered shares of Newpark Resources from a b- rating to a c+ rating in a research note on Thursday, January 4th. Roth Mkm assumed coverage on shares of Newpark Resources in a research note on Friday, March 8th. They set a buy rating and a $10.00 target price on the stock. Finally, Roth Capital reissued a buy rating on shares of Newpark Resources in a research note on Friday, March 8th. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, Newpark Resources has an average rating of Buy and an average target price of $10.75.

Newpark Resources Price Performance

NR stock opened at $7.10 on Friday. The company has a 50 day simple moving average of $7.15 and a 200 day simple moving average of $6.86. The stock has a market cap of $604.92 million, a price-to-earnings ratio of 39.45 and a beta of 2.78. Newpark Resources has a 1 year low of $3.40 and a 1 year high of $7.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74.

Newpark Resources (NYSE:NR) last released 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 analyst estimates of $170.87 million. Research analysts anticipate that Newpark Resources will post 0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Newpark Resources

Several large investors have recently bought and sold shares of the stock. CWM LLC grew its stake in shares of Newpark Resources by 495.4% during the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 3,775 shares during the period. Dorsey Wright & Associates bought a new position in shares of Newpark Resources in the third quarter worth approximately $32,000. New York State Teachers Retirement System bought a new position in Newpark Resources during the first quarter valued at approximately $50,000. Fortitude Family Office LLC grew its position in Newpark Resources by 179.1% during the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 4,751 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in Newpark Resources during the fourth quarter valued at approximately $49,000. 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.