Newpark Resources (NYSE:NR) Price Target Raised to $11.00 at B. Riley

Newpark Resources (NYSE:NR) had its target price upped by B. Riley from $10.00 to $11.00 in a report released on Monday, Benzinga reports. The firm currently has a buy rating on the oil and gas company’s stock. B. Riley also issued estimates for Newpark Resources’ Q2 2024 earnings at $0.08 EPS, FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

Several other equities analysts have also recently issued reports on NR. StockNews.com upgraded Newpark Resources from a hold rating to a buy rating in a research report on Friday. Roth Mkm assumed coverage on shares of Newpark Resources in a report on Friday, March 8th. They issued a buy rating and a $10.00 price target for the company. HC Wainwright reaffirmed a buy rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday. Finally, Roth Capital reiterated a buy rating on shares of Newpark Resources in a report on Friday, March 8th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Newpark Resources presently has an average rating of Buy and an average target price of $11.00.

Newpark Resources Price Performance

Shares of NR opened at $7.29 on Monday. Newpark Resources has a 12 month low of $3.40 and a 12 month high of $7.84. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. The stock has a fifty day moving average price of $7.17 and a 200 day moving average price of $6.86. The company has a market cap of $621.11 million, a P/E ratio of 39.78 and a beta of 2.78.

Newpark Resources (NYSE:NR) last posted its earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $167.82 million during the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. On average, research analysts forecast that Newpark Resources will post 0.3 earnings per share for the current year.

Institutional Trading of Newpark Resources

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC raised its stake in shares of 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 buying an additional 3,775 shares during the last quarter. Dorsey Wright & Associates bought a new stake in shares of Newpark Resources during the 3rd quarter valued at $32,000. New York State Teachers Retirement System acquired a new position in shares of Newpark Resources in the 1st quarter valued at $50,000. Fortitude Family Office LLC boosted its position in shares of Newpark Resources by 179.1% in the 1st 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. Finally, GAMMA Investing LLC acquired a new stake in shares of Newpark Resources during the fourth quarter worth $49,000. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.