HC Wainwright Reaffirms "Buy" Rating for Newpark Resources (NYSE:NR)

HC Wainwright restated their buy rating on shares of Newpark Resources (NYSE:NR - Free Report) in a report released on Monday morning,Benzinga reports. The brokerage currently has a $12.00 price objective on the oil and gas company's stock.

Separately, StockNews.com cut Newpark Resources from a "buy" rating to a "hold" rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Newpark Resources Price Performance

Shares of NR stock traded down $0.03 during midday trading on Monday, reaching $7.25. 657,473 shares of the company were exchanged, compared to its average volume of 665,011. The company's 50 day moving average price is $7.13 and its two-hundred day moving average price is $7.59. The company has a market cap of $626.91 million, a P/E ratio of -3.98 and a beta of 2.87. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. CWM LLC raised its holdings in shares of Newpark Resources by 114.5% during the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company's stock worth $81,000 after acquiring an additional 5,193 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Newpark Resources during the 1st quarter worth about $86,000. Ground Swell Capital LLC acquired a new stake in shares of Newpark Resources during the 2nd quarter valued at about $91,000. SG Americas Securities LLC bought a new stake in shares of Newpark Resources in the 3rd quarter valued at approximately $116,000. Finally, Catalina Capital Group LLC increased its holdings in Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company's stock worth $118,000 after buying an additional 1,360 shares during the last quarter. 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.