Newpark Resources (NYSE:NR) Downgraded by StockNews.com

Newpark Resources (NYSE:NR) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Separately, HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Thursday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Performance

Newpark Resources stock opened at $7.47 on Monday. The business has a 50 day moving average of $7.79 and a 200-day moving average of $7.67. The company has a market capitalization of $636.46 million, a P/E ratio of 41.50 and a beta of 2.87. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $179.01 million during the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same period in the prior year, the company posted $0.08 earnings per share. On average, equities research analysts predict that Newpark Resources will post 0.36 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares during the last quarter. New York State Teachers Retirement System bought a new stake in shares of Newpark Resources in the 1st quarter valued at about $50,000. Fortitude Family Office LLC boosted its holdings in Newpark Resources by 179.1% during the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after acquiring an additional 4,751 shares during the period. Victory Capital Management Inc. purchased a new stake in Newpark Resources during the 4th quarter valued at about $67,000. Finally, Perigon Wealth Management LLC bought a new position in Newpark Resources during the 1st quarter worth approximately $73,000. 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.