Newpark Resources (NYSE:NR) Hits New 12-Month High at $7.68

Newpark Resources, Inc. (NYSE:NR - Get Free Report) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $7.68 and last traded at $7.68, with a volume of 48950 shares traded. The stock had previously closed at $7.54.

Wall Street Analysts Forecast Growth

NR has been the subject of several research reports. StockNews.com lowered Newpark Resources from a "buy" rating to a "hold" rating in a research note on Friday, February 23rd. Roth Mkm initiated coverage on Newpark Resources in a research note on Friday, March 8th. They set a "buy" rating and a $10.00 price objective for the company. TheStreet lowered Newpark Resources from a "b-" rating to a "c+" rating in a research note on Thursday, January 4th. Finally, Roth Capital reissued a "buy" rating on shares of Newpark Resources in a research note on Friday, March 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $11.00.

Newpark Resources Stock Performance

The company has a quick ratio of 1.59, a current ratio of 2.62 and a debt-to-equity ratio of 0.14. The company has a market cap of $646.67 million, a P/E ratio of 47.44 and a beta of 2.75. The business has a fifty day moving average of $6.70 and a 200 day moving average of $6.77.

Newpark Resources (NYSE:NR - Get Free Report) last announced its earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.03). The business had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a net margin of 1.94% and a return on equity of 6.53%. On average, equities analysts predict that Newpark Resources, Inc. will post 0.29 EPS for the current year.

Institutional Investors Weigh In On Newpark Resources

A number of institutional investors have recently modified their holdings of NR. Vanguard Group Inc. boosted its position in shares of Newpark Resources by 13.7% during the fourth quarter. Vanguard Group Inc. now owns 4,761,308 shares of the oil and gas company's stock valued at $31,615,000 after buying an additional 574,271 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Newpark Resources by 62.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 259,531 shares of the oil and gas company's stock valued at $1,723,000 after buying an additional 99,695 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Newpark Resources during the fourth quarter valued at $2,567,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Newpark Resources during the fourth quarter valued at $206,000. Finally, Legal & General Group Plc boosted its position in shares of Newpark Resources by 997.5% during the fourth quarter. Legal & General Group Plc now owns 71,644 shares of the oil and gas company's stock valued at $476,000 after buying an additional 65,116 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other 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.