Newpark Resources (NYSE:NR) Shares Gap Down - Here's Why

Newpark Resources, Inc. (NYSE:NR - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $7.55, but opened at $7.09. Newpark Resources shares last traded at $7.20, with a volume of 100,916 shares changing hands.

Analyst Upgrades and Downgrades

NR has been the subject of a number of research analyst reports. HC Wainwright reissued a "buy" rating and set a $12.00 target price on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com cut Newpark Resources from a "buy" rating to a "hold" rating in a report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $11.00.

Newpark Resources Stock Performance

The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The stock has a market cap of $629.50 million, a price-to-earnings ratio of 29.12 and a beta of 2.87. The firm has a fifty day moving average of $7.13 and a 200 day moving average of $7.59.

Newpark Resources (NYSE:NR - Get Free Report) last posted its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The firm had revenue of $179.01 million during the quarter, compared to analysts' expectations of $171.04 million. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, sell-side analysts forecast that Newpark Resources, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NR. CWM LLC grew its position 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 worth $81,000 after acquiring an additional 5,193 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Newpark Resources during the first quarter worth $86,000. Ground Swell Capital LLC purchased a new position in shares of Newpark Resources during the second quarter worth $91,000. SG Americas Securities LLC purchased a new position in shares of Newpark Resources during the third quarter worth $116,000. Finally, Catalina Capital Group LLC boosted its position in shares of Newpark Resources by 10.6% during 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 period. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

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.