Newpark Resources (NYSE:NR) Stock Price Up 5.8% Following Analyst Upgrade

Newpark Resources, Inc. (NYSE:NR)’s share price was up 5.8% 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. Approximately 98,411 shares changed hands during mid-day trading, a decline of 85% from the average daily volume of 645,325 shares. The stock had previously closed at $7.10.

NR has been the subject of a number of other reports. StockNews.com raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday. Roth Mkm initiated coverage on Newpark Resources in a research note on Friday, March 8th. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research report on Friday, March 8th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Newpark Resources currently has an average rating of “Buy” and an average target price of $11.00.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in shares of Newpark Resources by 1.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 317,935 shares of the oil and gas company’s stock valued at $2,197,000 after purchasing an additional 4,105 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Newpark Resources during the 3rd quarter worth approximately $180,000. Roubaix Capital LLC increased its holdings in shares of Newpark Resources by 11.8% during the 3rd quarter. Roubaix Capital LLC now owns 575,783 shares of the oil and gas company’s stock worth $3,979,000 after acquiring an additional 60,966 shares during the last quarter. Skylands Capital LLC acquired a new stake in Newpark Resources during the 3rd quarter valued at $905,000. Finally, Panagora Asset Management Inc. lifted its holdings in Newpark Resources by 227.0% during the 3rd quarter. Panagora Asset Management Inc. now owns 192,648 shares of the oil and gas company’s stock valued at $1,331,000 after purchasing an additional 133,728 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors.

Newpark Resources Stock Performance

The stock has a market capitalization of $627.92 million, a P/E ratio of 40.95 and a beta of 2.78. The stock’s 50-day simple moving average is $7.19 and its 200 day simple moving average is $6.86. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74.

Newpark Resources (NYSE:NR) last announced 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 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 6.67% and a net margin of 2.25%. Research analysts expect that Newpark Resources, Inc. will post 0.3 EPS for the current fiscal year.

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.