Newpark Resources (NYSE:NR) PT Raised to $11.00

Newpark Resources (NYSE:NR) had its target price increased by equities research analysts at B. Riley from $10.00 to $11.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. B. Riley’s target price points to a potential upside of 52.78% from the stock’s current price.

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

Newpark Resources Stock Performance

NYSE NR traded up $0.10 on Monday, hitting $7.20. 277,220 shares of the stock traded hands, compared to its average volume of 647,333. The business’s fifty day moving average is $7.15 and its two-hundred day moving average is $6.86. Newpark Resources has a 12 month low of $3.40 and a 12 month high of $7.84. The firm has a market capitalization of $613.44 million, a price-to-earnings ratio of 40.00 and a beta of 2.78. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.74 and a current ratio of 2.79.

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

Hedge Funds Weigh In On Newpark Resources

Several large investors have recently added to or reduced their stakes in NR. GSA Capital Partners LLP purchased a new position in Newpark Resources during the fourth quarter valued at approximately $2,567,000. 1492 Capital Management LLC purchased a new position in shares of Newpark Resources in the fourth quarter worth $2,193,000. Dimensional Fund Advisors LP lifted its holdings in shares of Newpark Resources by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after buying an additional 303,236 shares in the last quarter. Yarra Square Partners LP lifted its holdings in shares of Newpark Resources by 48.5% in the fourth quarter. Yarra Square Partners LP now owns 814,100 shares of the oil and gas company’s stock worth $5,406,000 after buying an additional 266,000 shares in the last quarter. Finally, SG Capital Management LLC purchased a new position in shares of Newpark Resources in the third quarter worth $1,747,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.