Newpark Resources (NYSE:NR) Trading 5.8% Higher Following Analyst Upgrade

Newpark Resources, Inc. (NYSE:NR) rose 5.8% during mid-day trading on Monday after B. Riley raised their price target on the stock from $10.00 to $11.00. B. Riley currently has a buy rating on the stock. Newpark Resources traded as high as $7.54 and last traded at $7.51. Approximately 98,411 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 645,325 shares. The stock had previously closed at $7.10.

A number of other brokerages also recently weighed in on NR. Roth Capital reiterated a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. StockNews.com raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday. Roth Mkm assumed coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 price objective for the company. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research report on Monday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat, Newpark Resources presently has a consensus rating of “Buy” and a consensus target price of $11.00.

Hedge Funds Weigh In On Newpark Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in NR. Catalina Capital Group LLC acquired a new stake in Newpark Resources during the first quarter worth $93,000. Janney Montgomery Scott LLC acquired a new stake in shares of Newpark Resources during the 1st quarter valued at about $859,000. Perigon Wealth Management LLC acquired a new stake in shares of Newpark Resources during the 1st quarter valued at about $73,000. Principal Financial Group Inc. bought a new stake in Newpark Resources in the first quarter valued at about $246,000. Finally, Riverwater Partners LLC raised its position in Newpark Resources by 4.4% in the first quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 3,140 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.

Newpark Resources Trading Up 0.8 %

The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. The business’s 50 day simple moving average is $7.15 and its 200 day simple moving average is $6.86. The stock has a market cap of $610.03 million, a P/E ratio of 40.00 and a beta of 2.78.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $167.82 million for the quarter, compared to analyst estimates of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. On average, analysts expect that Newpark Resources, Inc. will post 0.3 earnings per share for the current fiscal year.

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.