Newpark Resources (NYSE:NR) Trading 5.8% Higher on Analyst Upgrade

Shares of Newpark Resources, Inc. (NYSE:NR) rose 5.8% during trading on Monday after B. Riley raised their price target on the stock from $10.00 to $11.00. B. Riley currently has a buy rating on the stock. Newpark Resources traded as high as $7.54 and last traded at $7.51. Approximately 98,411 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 645,325 shares. The stock had previously closed at $7.10.

NR has been the subject of several other reports. Roth Mkm initiated coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 target price for the company. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday. Roth Capital restated a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. Finally, StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $11.00.

Institutional Investors Weigh In On Newpark Resources

Large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in Newpark Resources by 20.5% in the third quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock worth $6,048,000 after acquiring an additional 148,700 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Newpark Resources by 53.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 608,342 shares of the oil and gas company’s stock valued at $4,039,000 after purchasing an additional 212,872 shares in the last quarter. Ritholtz Wealth Management bought a new position in shares of Newpark Resources in the fourth quarter valued at approximately $450,000. Vanguard Group Inc. lifted its holdings in shares of Newpark Resources by 4.0% in the third quarter. Vanguard Group Inc. now owns 4,187,037 shares of the oil and gas company’s stock valued at $28,932,000 after purchasing an additional 162,941 shares in the last quarter. Finally, Kennedy Capital Management LLC bought a new position in shares of Newpark Resources in the third quarter valued at approximately $1,294,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Stock Up 0.8 %

The stock has a fifty day moving average price of $7.17 and a two-hundred day moving average price of $6.86. The company has a market cap of $610.03 million, a P/E ratio of 39.78 and a beta of 2.78. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. On average, research analysts expect that Newpark Resources, Inc. will post 0.3 EPS for the current year.

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.