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

Shares of Newpark Resources, Inc. (NYSE:NR) have been assigned a consensus rating of “Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have covered the stock in the last year is $11.00.

A number of brokerages recently issued reports on NR. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th.

Newpark Resources Stock Performance

NYSE NR opened at $7.12 on Friday. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. Newpark Resources has a fifty-two week low of $5.61 and a fifty-two week high of $8.65. The business has a fifty day moving average of $7.57 and a 200-day moving average of $7.67. The stock has a market cap of $606.64 million, a price-to-earnings ratio of 39.56 and a beta of 2.86.

Newpark Resources (NYSE:NR) last announced its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The firm had revenue of $179.01 million during the quarter, compared to the consensus estimate of $171.04 million. During the same quarter in the previous year, the company posted $0.08 EPS. As a group, analysts predict that Newpark Resources will post 0.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NR. CWM LLC grew its stake in Newpark Resources by 495.4% during the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 3,775 shares in the last quarter. New York State Teachers Retirement System bought a new stake in shares of Newpark Resources in the first quarter worth $50,000. Fortitude Family Office LLC raised its holdings in Newpark Resources by 179.1% in the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 4,751 shares in the last quarter. Perigon Wealth Management LLC bought a new position in Newpark Resources during the 1st quarter valued at $73,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Newpark Resources during the 1st quarter worth $86,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

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.