Newpark Resources (NYSE:NR) Trading 4% Higher

Newpark Resources, Inc. (NYSE:NRGet Free Report)’s stock price rose 4% on Monday . The stock traded as high as $7.51 and last traded at $7.51. Approximately 74,610 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 706,155 shares. The stock had previously closed at $7.22.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NR shares. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. TheStreet cut Newpark Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. HC Wainwright assumed coverage on shares of Newpark Resources in a research note on Tuesday, December 5th. They set a “buy” rating and a $12.00 price objective on the stock. Roth Mkm began coverage on shares of Newpark Resources in a report on Friday, March 8th. They issued a “buy” rating and a $10.00 price objective for the company. Finally, Roth Capital restated a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Read Our Latest Report on Newpark Resources

Newpark Resources Trading Down 1.7 %

The firm has a market capitalization of $627.07 million, a price-to-earnings ratio of 46.00 and a beta of 2.75. The company has a quick ratio of 1.59, a current ratio of 2.62 and a debt-to-equity ratio of 0.14. The firm’s 50 day moving average is $6.65 and its 200 day moving average is $6.75.

Newpark Resources (NYSE:NRGet Free Report) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a return on equity of 6.53% and a net margin of 1.94%. Equities analysts forecast that Newpark Resources, Inc. will post 0.29 earnings per share for the current year.

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of Newpark Resources by 20.5% in the third quarter. Wellington Management Group LLP now owns 875,200 shares of the oil and gas company’s stock worth $6,048,000 after buying an additional 148,700 shares during the period. Assenagon Asset Management S.A. grew its position in Newpark Resources by 81.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 395,470 shares of the oil and gas company’s stock worth $2,733,000 after purchasing an additional 177,824 shares in the last quarter. Kennedy Capital Management LLC acquired a new stake in Newpark Resources during the 3rd quarter valued at $1,294,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in Newpark Resources by 55.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 184,230 shares of the oil and gas company’s stock valued at $1,273,000 after purchasing an additional 65,551 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Newpark Resources in the third quarter valued at $301,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

About Newpark Resources

(Get Free Report)

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.

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