Newpark Resources (NYSE:NR) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Newpark Resources (NYSE:NR) in a report issued on Sunday. The brokerage set a “hold” rating on the oil and gas company’s stock.

Separately, HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Price Performance

The firm’s 50-day simple moving average is $7.41 and its 200-day simple moving average is $7.63. The stock has a market cap of $627.10 million, a P/E ratio of 27.89 and a beta of 2.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NR. Barclays PLC grew its holdings in shares of Newpark Resources by 155.6% in the third quarter. Barclays PLC now owns 160,225 shares of the oil and gas company’s stock worth $1,109,000 after acquiring an additional 97,548 shares during the period. Geode Capital Management LLC boosted its position in Newpark Resources by 8.6% in the third quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock worth $13,454,000 after purchasing an additional 154,210 shares during the last quarter. M&T Bank Corp grew its stake in shares of Newpark Resources by 29.6% during the 3rd quarter. M&T Bank Corp now owns 310,212 shares of the oil and gas company’s stock valued at $2,150,000 after purchasing an additional 70,863 shares during the period. XTX Topco Ltd increased its position in shares of Newpark Resources by 247.2% during the 3rd quarter. XTX Topco Ltd now owns 81,943 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 58,341 shares during the last quarter. Finally, Zacks Investment Management lifted its stake in shares of Newpark Resources by 51.2% in the 3rd quarter. Zacks Investment Management now owns 28,704 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 9,725 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.