Newpark Resources (NYSE:NR) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Newpark Resources (NYSE:NR) in a research note issued to investors on Wednesday morning. The firm issued a hold rating on the oil and gas company’s stock.

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Price Performance

The business’s 50 day moving average is $7.41 and its two-hundred day moving average is $7.63. The company has a market cap of $627.10 million, a price-to-earnings ratio of 27.89 and a beta of 2.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65.

Hedge Funds Weigh In On Newpark Resources

Institutional investors and hedge funds have recently bought and sold shares of the company. EP Wealth Advisors LLC acquired a new stake in shares of Newpark Resources during the third quarter worth $96,000. Captrust Financial Advisors increased its holdings in Newpark Resources by 10.8% in the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,430 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Newpark Resources during the 3rd quarter worth approximately $116,000. CWM LLC grew its position in shares of Newpark Resources by 79.3% during the 3rd quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock worth $121,000 after buying an additional 7,713 shares during the period. Finally, GSA Capital Partners LLP raised its holdings in shares of Newpark Resources by 68.1% during the third quarter. GSA Capital Partners LLP now owns 17,618 shares of the oil and gas company’s stock valued at $122,000 after purchasing an additional 7,140 shares during the period. Institutional investors and hedge funds 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.