Newpark Resources, Inc. (NYSE:NR) Receives Consensus Recommendation of "Buy" from Analysts

Newpark Resources, Inc. (NYSE:NR - Get Free Report) has been given an average rating of "Buy" by the four analysts that are presently covering the firm, MarketBeat Ratings reports. Four research analysts have rated the stock with a buy recommendation. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $11.00.

NR has been the subject of a number of research analyst reports. StockNews.com lowered Newpark Resources from a "buy" rating to a "hold" rating in a report on Monday, September 23rd. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price target on shares of Newpark Resources in a report on Monday, November 11th.

Newpark Resources Stock Down 2.6 %

NYSE NR traded down $0.21 during trading on Friday, hitting $7.74. 435,565 shares of the company traded hands, compared to its average volume of 669,682. The business has a fifty day simple moving average of $7.37 and a 200 day simple moving average of $7.65. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $669.05 million, a P/E ratio of -4.23 and a beta of 2.92.

Institutional Trading of Newpark Resources

Hedge funds have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Newpark Resources by 125.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 764,873 shares of the oil and gas company's stock valued at $5,301,000 after acquiring an additional 425,505 shares in the last quarter. Pennant Select LLC grew its position in shares of Newpark Resources by 65.0% in the 3rd quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company's stock valued at $6,861,000 after acquiring an additional 390,000 shares during the period. American Century Companies Inc. raised its holdings in shares of Newpark Resources by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company's stock valued at $15,720,000 after purchasing an additional 313,451 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Newpark Resources by 439.5% during the third quarter. Harbor Capital Advisors Inc. now owns 349,136 shares of the oil and gas company's stock worth $2,420,000 after purchasing an additional 284,421 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Newpark Resources during the 3rd quarter worth approximately $1,357,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.