Newpark Resources’ (NR) Buy Rating Reaffirmed at HC Wainwright

HC Wainwright reissued their buy rating on shares of Newpark Resources (NYSE:NR) in a research note published on Monday morning, Benzinga reports. They currently have a $12.00 price objective on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ FY2025 earnings at $0.45 EPS.

Other research analysts have also issued research reports about the company. Roth Mkm started coverage on Newpark Resources in a research report on Friday, March 8th. They set a buy rating and a $10.00 price target for the company. B. Riley assumed coverage on shares of Newpark Resources in a research report on Tuesday, April 9th. They issued a buy rating and a $10.00 target price for the company. StockNews.com upgraded shares of Newpark Resources from a hold rating to a buy rating in a research report on Friday. Finally, Roth Capital reiterated 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, the company presently has an average rating of Buy and an average target price of $11.00.

Newpark Resources Price Performance

Shares of NYSE NR opened at $7.29 on Monday. Newpark Resources has a 1-year low of $3.40 and a 1-year high of $7.84. The firm has a market capitalization of $621.11 million, a PE ratio of 39.78 and a beta of 2.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. The business’s fifty day moving average price is $7.17 and its two-hundred day moving average price is $6.86.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $167.82 million during the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. On average, research analysts expect that Newpark Resources will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Newpark Resources by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock valued at $40,859,000 after acquiring an additional 303,236 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Newpark Resources by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock worth $28,932,000 after purchasing an additional 162,941 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Newpark Resources by 20.5% during the 3rd quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock valued at $6,048,000 after buying an additional 148,700 shares during the last quarter. Yarra Square Partners LP increased its holdings in Newpark Resources by 48.5% in the fourth quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock worth $5,406,000 after buying an additional 266,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised 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 acquiring an additional 212,872 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.