Newpark Resources (NYSE:NR) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Newpark Resources (NYSE:NR) in a research report sent to investors on Thursday morning, Benzinga reports. HC Wainwright currently has a $12.00 price target on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS and FY2026 earnings at $0.44 EPS.

Separately, StockNews.com upgraded shares of Newpark Resources from a hold rating to a buy rating in a report on Sunday, September 15th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Newpark Resources has a consensus rating of Buy and an average price target of $11.00.

Newpark Resources Price Performance

NR opened at $7.50 on Thursday. The stock has a fifty day moving average price of $7.79 and a 200 day moving average price of $7.65. The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65. The stock has a market cap of $639.02 million, a price-to-earnings ratio of 41.67 and a beta of 2.87.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The business had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. During the same quarter in the previous year, the business posted $0.08 EPS. Analysts forecast that Newpark Resources will post 0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Newpark Resources

A number of institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. bought a new stake in Newpark Resources during the fourth quarter valued at about $67,000. Swiss National Bank acquired a new stake in Newpark Resources during the fourth quarter worth about $1,079,000. Private Advisor Group LLC bought a new position in Newpark Resources during the fourth quarter valued at about $134,000. Teacher Retirement System of Texas acquired a new position in Newpark Resources in the 4th quarter valued at approximately $712,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Newpark Resources by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after acquiring an additional 303,236 shares during the period. 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.