Newpark Resources, Inc. (NYSE:NR) Receives $11.00 Average Price Target from Analysts

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

Several research firms have commented on NR. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Thursday, September 19th.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds have recently made changes to their positions in NR. SG Americas Securities LLC acquired a new position in Newpark Resources in the third quarter valued at $116,000. Ironwood Investment Management LLC boosted its holdings in Newpark Resources by 1.0% in the second quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock valued at $1,209,000 after acquiring an additional 1,442 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Newpark Resources by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after acquiring an additional 4,255 shares during the last quarter. Marathon Capital Management boosted its holdings in Newpark Resources by 1.1% in the second quarter. Marathon Capital Management now owns 266,175 shares of the oil and gas company’s stock valued at $2,212,000 after acquiring an additional 3,025 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Newpark Resources by 12.3% in the second quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company’s stock valued at $5,401,000 after acquiring an additional 71,073 shares during the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Stock Up 1.5 %

Shares of NYSE NR opened at $7.06 on Friday. The stock has a market cap of $601.10 million, a PE ratio of 39.19 and a beta of 2.86. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The business has a 50-day moving average price of $7.60 and a 200 day moving average price of $7.66.

Newpark Resources (NYSE:NR) last announced its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same period in the prior year, the firm earned $0.08 EPS. Equities research analysts forecast that Newpark Resources will post 0.36 earnings per share 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.