Newpark Resources (NYSE:NR) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Newpark Resources (NYSE:NR) in a research note issued to investors on Saturday. The brokerage issued a hold rating on the oil and gas company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The company’s 50 day moving average is $7.41 and its 200-day moving average is $7.63. Newpark Resources has a 52-week low of $5.61 and a 52-week high of $8.65. The firm has a market capitalization of $627.10 million, a price-to-earnings ratio of 27.89 and a beta of 2.92.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ground Swell Capital LLC bought a new position in shares of Newpark Resources during the 2nd quarter worth approximately $91,000. EP Wealth Advisors LLC bought a new position in Newpark Resources in the third quarter valued at $96,000. Captrust Financial Advisors increased its stake in Newpark Resources by 10.8% in the 3rd 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 last quarter. SG Americas Securities LLC bought a new stake in Newpark Resources during the 3rd quarter worth about $116,000. Finally, CWM LLC boosted its stake in shares of Newpark Resources by 79.3% during the 3rd quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock worth $121,000 after buying an additional 7,713 shares during 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.