Newpark Resources (NYSE:NR) Stock Rating Reaffirmed by HC Wainwright

Newpark Resources (NYSE:NR)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $12.00 price target on the oil and gas company’s stock. HC Wainwright’s price objective would indicate a potential upside of 60.64% from the company’s current price. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS and FY2026 earnings at $0.44 EPS.

Separately, StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a report on Sunday, September 15th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

NR stock opened at $7.47 on Thursday. The business’s fifty day moving average is $7.79 and its 200-day moving average is $7.65. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. The company has a market cap of $636.46 million, a P/E ratio of 41.50 and a beta of 2.87. Newpark Resources has a twelve month low of $5.61 and a twelve month 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 the consensus estimate of $0.08 by $0.04. The business had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter last year, the business posted $0.08 EPS. Equities research analysts forecast that Newpark Resources will post 0.36 EPS for the current year.

Hedge Funds Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC grew its holdings in Newpark Resources by 495.4% during the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares during the period. New York State Teachers Retirement System acquired a new stake in Newpark Resources during the first quarter worth approximately $50,000. Fortitude Family Office LLC lifted its position in Newpark Resources by 179.1% during the first quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 4,751 shares during the last quarter. Victory Capital Management Inc. acquired a new stake in Newpark Resources during the fourth quarter worth approximately $67,000. Finally, Perigon Wealth Management LLC acquired a new stake in Newpark Resources during the first quarter worth approximately $73,000. Institutional investors own 80.81% of the company’s stock.

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.