Newpark Resources, Inc. (NYSE:NR) Receives $11.00 Consensus Price Target from Analysts

Newpark Resources, Inc. (NYSE:NR) has been assigned an average rating of “Buy” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.00.

Several equities research analysts have commented on the company. B. Riley boosted their target price on Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, May 6th. StockNews.com upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Wednesday, August 7th.

Newpark Resources Stock Up 1.0 %

Shares of NYSE NR opened at $7.97 on Friday. The company has a quick ratio of 1.74, a current ratio of 2.79 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average is $7.92 and its 200 day moving average is $7.41. The company has a market cap of $678.63 million, a price-to-earnings ratio of 44.25 and a beta of 2.89. Newpark Resources has a 52 week low of $5.26 and a 52 week high of $8.65.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. The business had revenue of $179.01 million for the quarter, compared to analyst estimates of $171.04 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. On average, equities research analysts expect that Newpark Resources will post 0.35 earnings per share for the current year.

Institutional Trading of Newpark Resources

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in 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 during the last quarter. Arizona State Retirement System purchased a new position in Newpark Resources during the fourth quarter valued at approximately $153,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Newpark Resources by 29.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,682 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 7,681 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in Newpark Resources in the 4th quarter worth about $460,000. Finally, Mackenzie Financial Corp purchased a new position in shares of Newpark Resources during the 4th quarter valued at approximately $101,000. 80.81% of the stock is currently owned by institutional investors.

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.