Newpark Resources' (NR) Buy Rating Reaffirmed at HC Wainwright

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

Separately, StockNews.com upgraded Newpark Resources from a hold rating to a buy rating in a research report on Sunday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Newpark Resources currently has an average rating of Buy and a consensus price target of $11.00.

Newpark Resources Stock Up 3.7 %

Shares of NYSE:NR traded up $0.27 during trading on Thursday, reaching $7.50. The stock had a trading volume of 754,734 shares, compared to its average volume of 664,770. The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $639.02 million, a P/E ratio of 41.67 and a beta of 2.87. The firm's 50-day simple moving average is $7.79 and its 200 day simple moving average is $7.65. Newpark Resources has a one year low of $5.61 and a one year high of $8.65.

Newpark Resources (NYSE:NR - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The company had revenue of $179.01 million during the quarter, compared to analysts' expectations of $171.04 million. During the same period last year, the business posted $0.08 earnings per share. As a group, research analysts expect that Newpark Resources will post 0.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Several institutional investors have recently bought and sold shares of NR. Dimensional Fund Advisors LP grew its holdings in shares of Newpark Resources by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company's stock worth $40,859,000 after buying an additional 303,236 shares in the last quarter. American Century Companies Inc. grew its stake in Newpark Resources by 19.9% during 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 acquiring an additional 313,451 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Newpark Resources by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 653,000 shares of the oil and gas company's stock valued at $5,426,000 after acquiring an additional 15,859 shares during the last quarter. AQR Capital Management LLC lifted its stake in Newpark Resources by 12.3% in the 2nd quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company's stock worth $5,401,000 after purchasing an additional 71,073 shares in the last quarter. Finally, Ancora Advisors LLC boosted its holdings in shares of Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company's stock worth $4,678,000 after purchasing an additional 418,570 shares during the last quarter. 80.81% of the stock is currently 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.