Newpark Resources (NYSE:NR) Reaches New 52-Week High at $7.84

Newpark Resources, Inc. (NYSE:NR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $7.84 and last traded at $7.77, with a volume of 60960 shares. The stock had previously closed at $7.66.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. B. Riley initiated coverage on shares of Newpark Resources in a report on Tuesday. They set a "buy" rating and a $10.00 price target on the stock. TheStreet downgraded Newpark Resources from a "b-" rating to a "c+" rating in a report on Thursday, January 4th. 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 target for the company. StockNews.com downgraded Newpark Resources from a "buy" rating to a "hold" rating in a research report on Friday, February 23rd. Finally, Roth Capital reiterated a "buy" rating on shares of Newpark Resources in a research report on Friday, March 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Newpark Resources Stock Down 3.1 %

The stock has a market cap of $632.20 million, a PE ratio of 46.50 and a beta of 2.75. The business has a fifty day moving average of $6.81 and a 200-day moving average of $6.81. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.62 and a quick ratio of 1.59.

Newpark Resources (NYSE:NR - Get Free Report) last issued its earnings results 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). Newpark Resources had a return on equity of 6.53% and a net margin of 1.94%. The firm had revenue of $167.82 million during the quarter, compared to analysts' expectations of $170.87 million. Equities research analysts anticipate that Newpark Resources, Inc. will post 0.3 earnings per share for the current year.

Institutional Investors Weigh In On Newpark Resources

Several large investors have recently modified their holdings of NR. Millennium Management LLC raised its holdings in Newpark Resources by 534.4% in the fourth quarter. Millennium Management LLC now owns 872,751 shares of the oil and gas company's stock worth $3,622,000 after purchasing an additional 735,171 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Newpark Resources by 16.0% during the first quarter. Dimensional Fund Advisors LP now owns 5,133,165 shares of the oil and gas company's stock worth $19,763,000 after purchasing an additional 708,123 shares in the last quarter. Cannell Capital LLC lifted its holdings in shares of Newpark Resources by 20.8% during the 1st quarter. Cannell Capital LLC now owns 4,091,358 shares of the oil and gas company's stock valued at $14,974,000 after purchasing an additional 703,605 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Newpark Resources by 13.7% during the 4th quarter. Vanguard Group Inc. now owns 4,761,308 shares of the oil and gas company's stock valued at $31,615,000 after purchasing an additional 574,271 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Newpark Resources by 233.5% in the 2nd quarter. Renaissance Technologies LLC now owns 688,502 shares of the oil and gas company's stock worth $2,127,000 after purchasing an additional 482,061 shares in the last quarter. 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.