Newpark Resources (NYSE:NR) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Newpark Resources (NYSE:NR - Free Report) in a research note issued to investors on Monday, Benzinga reports. They currently have a $12.00 price target on the oil and gas company's stock.

A number of other equities analysts also recently issued reports on NR. StockNews.com upgraded Newpark Resources from a hold rating to a buy rating in a research note on Friday. B. Riley assumed coverage on shares of Newpark Resources in a research report on Tuesday, April 9th. They set a buy rating and a $10.00 price target for the company. Roth Mkm initiated coverage on shares of Newpark Resources in a research report on Friday, March 8th. They set a buy rating and a $10.00 target price for the company. Finally, Roth Capital reaffirmed a buy rating on shares of Newpark Resources in a report on Friday, March 8th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of Buy and a consensus target price of $11.00.

Newpark Resources Price Performance

NYSE:NR traded up $0.06 during mid-day trading on Monday, reaching $7.16. The stock had a trading volume of 505,051 shares, compared to its average volume of 650,117. Newpark Resources has a one year low of $3.40 and a one year high of $7.84. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79. The firm has a 50 day moving average price of $7.17 and a two-hundred day moving average price of $6.86. The stock has a market capitalization of $610.03 million, a P/E ratio of 39.78 and a beta of 2.78.

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 net margin of 2.25% and a return on equity of 6.67%. The company had revenue of $167.82 million for the quarter, compared to analysts' expectations of $170.87 million. As a group, analysts expect that Newpark Resources will post 0.3 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in NR. Dorsey Wright & Associates purchased a new position in shares of Newpark Resources in the 3rd quarter valued at about $32,000. CWM LLC increased its holdings in Newpark Resources by 495.4% in the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 3,775 shares in the last quarter. GAMMA Investing LLC acquired a new position in Newpark Resources during the fourth quarter worth $49,000. New York State Teachers Retirement System purchased a new position in Newpark Resources during the first quarter valued at $50,000. Finally, Fortitude Family Office LLC grew its position in shares of Newpark Resources by 179.1% in the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company's stock valued at $53,000 after purchasing an additional 4,751 shares during the period. Hedge funds and other institutional investors own 80.81% of the company's stock.

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.