Newpark Resources (NYSE:NR) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Newpark Resources (NYSE:NR) in a report published on Thursday, Benzinga reports. HC Wainwright currently has a $12.00 price target on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ Q3 2024 earnings at $0.07 EPS, Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at $0.08 EPS, Q2 2025 earnings at $0.09 EPS, Q3 2025 earnings at $0.10 EPS, Q4 2025 earnings at $0.11 EPS, FY2025 earnings at $0.37 EPS and FY2026 earnings at $0.44 EPS.

Separately, StockNews.com upgraded shares of Newpark Resources from a hold rating to a buy rating in a research report on Sunday, September 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $11.00.

Newpark Resources Stock Performance

Shares of NYSE NR opened at $7.47 on Thursday. Newpark Resources has a 12-month low of $5.61 and a 12-month high of $8.65. The company has a market cap of $636.46 million, a PE ratio of 41.50 and a beta of 2.87. The stock has a 50 day simple moving average of $7.79 and a 200-day simple moving average of $7.67. The company has a current ratio of 2.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.09.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $179.01 million during the quarter, compared to analyst estimates of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, equities research analysts forecast that Newpark Resources will post 0.36 EPS for the current year.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Ancora Advisors LLC boosted its stake in shares of Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after acquiring an additional 418,570 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Newpark Resources in the 4th quarter valued at $2,567,000. Russell Investments Group Ltd. increased its stake in Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares in the last quarter. 1492 Capital Management LLC acquired a new stake in Newpark Resources during the 4th quarter worth about $2,193,000. Finally, American Century Companies Inc. raised its holdings in Newpark Resources by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after buying an additional 313,451 shares during the period. 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.