Newpark Resources (NYSE:NR) Trading 5.8% Higher on Analyst Upgrade

Newpark Resources, Inc. (NYSE:NR) shares traded up 5.8% during trading on Monday after B. Riley raised their price target on the stock from $10.00 to $11.00. B. Riley currently has a buy rating on the stock. Newpark Resources traded as high as $7.54 and last traded at $7.51. 98,411 shares changed hands during trading, a decline of 85% from the average session volume of 645,325 shares. The stock had previously closed at $7.10.

Several other equities research analysts have also recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Monday. Roth Mkm began coverage on shares of Newpark Resources in a research note on Friday, March 8th. They issued a “buy” rating and a $10.00 price objective for the company. StockNews.com raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $11.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dorsey Wright & Associates purchased a new stake in Newpark Resources in the 3rd quarter valued at $32,000. CWM LLC raised its holdings in shares of Newpark Resources by 495.4% in the first 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 during the last quarter. GAMMA Investing LLC purchased a new stake in shares of Newpark Resources in the fourth quarter valued at about $49,000. New York State Teachers Retirement System bought a new position in shares of Newpark Resources during the first quarter valued at about $50,000. Finally, Fortitude Family Office LLC boosted its holdings 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 purchasing an additional 4,751 shares during the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Stock Up 0.8 %

The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $610.03 million, a P/E ratio of 40.00 and a beta of 2.78. The stock’s 50-day simple moving average is $7.15 and its 200-day simple moving average is $6.86.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $167.82 million during the quarter, compared to analysts’ expectations of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. As a group, research analysts predict that Newpark Resources, Inc. will post 0.3 earnings per share for the current fiscal year.

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.