Newpark Resources, Inc. (NYSE:NR) Receives Average Recommendation of “Buy” from Analysts

Newpark Resources, Inc. (NYSE:NR) has received a consensus recommendation of “Buy” from the four ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $11.00.

Several research analysts recently issued reports on NR shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research report on Monday, November 11th. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd.

Hedge Funds Weigh In On Newpark Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC raised its position in Newpark Resources by 114.5% in the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 5,193 shares during the last quarter. Ground Swell Capital LLC acquired a new position in Newpark Resources in the second quarter valued at approximately $91,000. EP Wealth Advisors LLC bought a new position in Newpark Resources in the third quarter valued at approximately $96,000. Captrust Financial Advisors grew its holdings in Newpark Resources by 10.8% during the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 1,430 shares during the period. Finally, SG Americas Securities LLC bought a new stake in shares of Newpark Resources during the 3rd quarter valued at $116,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Trading Up 1.9 %

Shares of NR stock opened at $7.92 on Monday. The stock has a 50 day moving average of $7.11 and a two-hundred day moving average of $7.60. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65.

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.