Newpark Resources (NYSE:NR) Sets New 1-Year High at $7.84

Newpark Resources, Inc. (NYSE:NR) shares reached a new 52-week high during trading on Friday . The stock traded as high as $7.84 and last traded at $7.77, with a volume of 60960 shares. The stock had previously closed at $7.66.

Analysts Set New Price Targets

Several brokerages have commented on NR. Roth Capital reissued a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. Roth Mkm began coverage on shares of Newpark Resources in a report on Friday, March 8th. They issued a “buy” rating and a $10.00 price target for the company. B. Riley began coverage on shares of Newpark Resources in a report on Tuesday, April 9th. They set a “buy” rating and a $10.00 price objective for the company. Finally, TheStreet downgraded shares of Newpark Resources from a “b-” rating to a “c+” rating in a report on Thursday, January 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Newpark Resources Price Performance

The business’s 50 day moving average price is $6.84 and its two-hundred day moving average price is $6.82. The stock has a market cap of $632.18 million, a P/E ratio of 46.38 and a beta of 2.75. The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14.

Newpark Resources (NYSE:NR) last announced its earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a net margin of 1.94% and a return on equity of 6.53%. As a group, sell-side analysts expect that Newpark Resources, Inc. will post 0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds have recently bought and sold shares of NR. Dorsey Wright & Associates bought a new position in shares of Newpark Resources in the third quarter worth approximately $32,000. CWM LLC lifted its stake in shares of Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after buying an additional 3,775 shares in the last quarter. UBS Group AG lifted its stake in shares of Newpark Resources by 374.4% in the third quarter. UBS Group AG now owns 13,410 shares of the oil and gas company’s stock worth $34,000 after buying an additional 10,583 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Newpark Resources by 252.0% in the first quarter. Captrust Financial Advisors now owns 10,288 shares of the oil and gas company’s stock worth $38,000 after buying an additional 7,365 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of Newpark Resources in the first quarter worth approximately $41,000. Institutional investors own 80.81% of the company’s stock.

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.