Brokerages Set Newpark Resources, Inc. (NYSE:NR) PT at $11.00

Shares of Newpark Resources, Inc. (NYSE:NR) have received a consensus rating of “Buy” from the four research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a buy rating. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.00.

Several brokerages recently weighed in on NR. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research report on Monday, November 11th. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds have recently modified their holdings of NR. CWM LLC increased its holdings in Newpark Resources by 114.5% in the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 5,193 shares in the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Newpark Resources during the second quarter valued at about $91,000. EP Wealth Advisors LLC bought a new stake in shares of Newpark Resources during the third quarter worth about $96,000. Captrust Financial Advisors increased 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. Finally, SG Americas Securities LLC bought a new position in Newpark Resources in the 3rd quarter valued at approximately $116,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Price Performance

The business’s fifty day simple moving average is $7.41 and its two-hundred day simple moving average is $7.63. The company has a market capitalization of $627.10 million, a PE ratio of -3.96 and a beta of 2.92. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02.

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.