Newpark Resources, Inc. (NYSE:NR) Short Interest Up 31.7% in September

Newpark Resources, Inc. (NYSE:NR) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,660,000 shares, an increase of 31.7% from the September 15th total of 1,260,000 shares. Based on an average daily volume of 667,500 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.1% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NR shares. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research report on Thursday, September 19th. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Trading Down 1.8 %

Shares of Newpark Resources stock traded down $0.13 on Tuesday, hitting $6.98. 548,407 shares of the company’s stock traded hands, compared to its average volume of 669,986. The company has a market capitalization of $594.71 million, a price-to-earnings ratio of 39.50 and a beta of 2.86. The company has a fifty day moving average of $7.49 and a two-hundred day moving average of $7.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. Newpark Resources has a one year low of $5.61 and a one year high of $8.65.

Newpark Resources (NYSE:NR) last posted its quarterly earnings results 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 net margin of 3.15% and a return on equity of 7.49%. The business had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. During the same period last year, the company posted $0.08 earnings per share. As a group, sell-side analysts expect that Newpark Resources will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Catalina Capital Group LLC raised its stake in shares of Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,360 shares during the last quarter. Ironwood Investment Management LLC grew its stake in shares of Newpark Resources by 1.0% in the 2nd quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock worth $1,209,000 after acquiring an additional 1,442 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Newpark Resources by 8.1% in the first quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock valued at $155,000 after purchasing an additional 1,604 shares during the last quarter. Marathon Capital Management lifted its position in shares of Newpark Resources by 1.1% during the second quarter. Marathon Capital Management now owns 266,175 shares of the oil and gas company’s stock valued at $2,212,000 after purchasing an additional 3,025 shares in the last quarter. Finally, Riverwater Partners LLC boosted its holdings in Newpark Resources by 4.4% during the first quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 3,140 shares during the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

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.