Short Interest in Newpark Resources, Inc. (NYSE:NR) Declines By 13.7%

Newpark Resources, Inc. (NYSE:NR) was the recipient of a large decrease in short interest in the month of September. As of September 15th, there was short interest totalling 1,260,000 shares, a decrease of 13.7% from the August 31st total of 1,460,000 shares. Based on an average daily trading volume, of 662,800 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.6% of the shares of the company are short sold.

Newpark Resources Price Performance

NYSE NR opened at $6.92 on Friday. The business’s fifty day moving average is $7.71 and its 200 day moving average is $7.67. Newpark Resources has a fifty-two week low of $5.61 and a fifty-two week high of $8.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61. The company has a market capitalization of $589.60 million, a PE ratio of 38.44 and a beta of 2.87.

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, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to analysts’ expectations of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same period in the previous year, the firm earned $0.08 EPS. Sell-side analysts predict that Newpark Resources will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NR. HC Wainwright reissued a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.00.

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds have recently modified their holdings of NR. CWM LLC boosted its stake in shares of 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 acquiring an additional 3,775 shares during the period. New York State Teachers Retirement System purchased a new stake in Newpark Resources during the 1st quarter valued at approximately $50,000. Fortitude Family Office LLC grew 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 buying an additional 4,751 shares in the last quarter. Perigon Wealth Management LLC bought a new stake in shares of Newpark Resources during the first quarter valued at approximately $73,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in shares of Newpark Resources in the first quarter worth $86,000. 80.81% of the stock is currently owned by institutional investors.

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.