Newpark Resources (NYSE:NR) Upgraded by StockNews.com to “Buy”

Newpark Resources (NYSE:NR) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report released on Sunday.

Separately, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Wednesday, August 7th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

Shares of NR stock opened at $7.34 on Friday. 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 cap of $625.38 million, a PE ratio of 40.78 and a beta of 2.87. The company’s fifty day simple moving average is $7.79 and its 200-day simple moving average is $7.65. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $171.04 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. As a group, equities research analysts anticipate that Newpark Resources will post 0.36 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NR. Dimensional Fund Advisors LP boosted its stake in Newpark Resources by 5.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock valued at $40,859,000 after purchasing an additional 303,236 shares in the last quarter. American Century Companies Inc. grew its holdings in Newpark Resources by 19.9% during the second quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after acquiring an additional 313,451 shares during the period. Yarra Square Partners LP raised its position in Newpark Resources by 48.5% in the fourth quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock worth $5,406,000 after acquiring an additional 266,000 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 worth $5,426,000 after purchasing an additional 15,859 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of 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. 80.81% of the stock is owned by institutional investors and hedge funds.

About Newpark Resources

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.