Newpark Resources, Inc. (NYSE:NR) Given Consensus Recommendation of “Buy” by Brokerages

Newpark Resources, Inc. (NYSE:NR) has been assigned a consensus rating of “Buy” from the four research firms that are presently covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $11.00.

Several equities analysts have commented on the company. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a report on Monday, November 11th.

Newpark Resources Stock Down 1.8 %

Shares of NR stock opened at $6.99 on Monday. The stock’s 50 day simple moving average is $7.07 and its 200 day simple moving average is $7.59. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The company has a market capitalization of $604.64 million, a price-to-earnings ratio of -3.82 and a beta of 2.87.

Hedge Funds Weigh In On Newpark Resources

Several large investors have recently bought and sold shares of the stock. Catalina Capital Group LLC grew its position in Newpark Resources by 10.6% in the 2nd quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,360 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Newpark Resources by 10.8% in the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 1,430 shares during the period. Ironwood Investment Management LLC grew its position in Newpark Resources by 1.0% during the second quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock worth $1,209,000 after buying an additional 1,442 shares in the last quarter. NorthCrest Asset Manangement LLC increased its stake in Newpark Resources by 3.6% during the third quarter. NorthCrest Asset Manangement LLC now owns 43,203 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 1,517 shares during the period. Finally, Bleakley Financial Group LLC raised its holdings in Newpark Resources by 8.1% in the 1st quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock valued at $155,000 after acquiring an additional 1,604 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.