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

HC Wainwright restated their buy rating on shares of Newpark Resources (NYSE:NR) in a research report sent to investors on Monday,Benzinga reports. The firm currently has a $12.00 price target on the oil and gas company’s stock.

Separately, StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Down 0.4 %

Newpark Resources stock opened at $7.25 on Monday. The business has a fifty day moving average of $7.13 and a two-hundred day moving average of $7.59. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. The firm has a market cap of $626.91 million, a P/E ratio of -3.98 and a beta of 2.87. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65.

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NR. Intech Investment Management LLC acquired a new stake in Newpark Resources during the 3rd quarter worth about $195,000. Northeast Financial Group Inc. acquired a new stake in Newpark Resources during the 3rd quarter worth about $457,000. Empowered Funds LLC grew its position in Newpark Resources by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 95,600 shares of the oil and gas company’s stock worth $663,000 after purchasing an additional 4,824 shares during the period. Royce & Associates LP grew its position in shares of Newpark Resources by 2.9% during the 3rd quarter. Royce & Associates LP now owns 2,191,552 shares of the oil and gas company’s stock valued at $15,187,000 after acquiring an additional 61,128 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Newpark Resources by 10.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 2,730 shares during the period. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.