Newpark Resources (NYSE:NR) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Newpark Resources (NYSE:NR) in a research note published on Monday morning,Benzinga reports. The firm currently has a $12.00 target price on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ FY2024 earnings at $0.42 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS and FY2025 earnings at $0.34 EPS.

Separately, StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Newpark Resources has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Trading Down 2.2 %

Shares of NR opened at $7.12 on Monday. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The business has a 50-day simple moving average of $7.08 and a two-hundred day simple moving average of $7.59.

Hedge Funds Weigh In On Newpark Resources

Institutional investors and hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its stake in Newpark Resources by 114.5% in the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Newpark Resources during the 1st quarter worth approximately $86,000. Ground Swell Capital LLC acquired a new position in Newpark Resources during the second quarter worth approximately $91,000. Captrust Financial Advisors lifted its stake in Newpark Resources by 10.8% in the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 1,430 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Newpark Resources in the third quarter valued at approximately $116,000. 80.81% of the stock is owned by institutional investors and hedge funds.

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.