Brokerages Set Newpark Resources, Inc. (NYSE:NR) Price Target at $10.75

Shares of Newpark Resources, Inc. (NYSE:NR) have been given an average rating of “Buy” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

Several brokerages have recently weighed in on NR. B. Riley increased their target price on shares of Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday. Roth Capital reiterated a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday. Roth Mkm started coverage on shares of Newpark Resources in a research report on Friday, March 8th. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NR. Catalina Capital Group LLC purchased a new position in Newpark Resources in the first quarter valued at about $93,000. Janney Montgomery Scott LLC acquired a new position in Newpark Resources during the first quarter worth $859,000. Perigon Wealth Management LLC acquired a new position in Newpark Resources during the first quarter worth $73,000. Principal Financial Group Inc. purchased a new stake in Newpark Resources during the first quarter worth $246,000. Finally, Riverwater Partners LLC grew its holdings 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 valued at $543,000 after purchasing an additional 3,140 shares during the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Price Performance

NR stock opened at $7.16 on Thursday. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $610.03 million, a P/E ratio of 39.78 and a beta of 2.78. The business has a 50 day simple moving average of $7.17 and a 200-day simple moving average of $6.86. Newpark Resources has a twelve month low of $3.40 and a twelve month high of $7.84.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. The business had revenue of $167.82 million for the quarter, compared to analyst estimates of $170.87 million. As a group, equities analysts anticipate that Newpark Resources will post 0.3 EPS for the current year.

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.