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

StockNews.com assumed coverage on shares of Newpark Resources (NYSE:NR) in a research report sent to investors on Monday. The firm issued a hold rating on the oil and gas company’s stock.

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

Newpark Resources Stock Performance

The company has a market capitalization of $627.10 million, a P/E ratio of 27.89 and a beta of 2.92. The business has a fifty day simple moving average of $7.41 and a 200 day simple moving average of $7.63. 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 1-year low of $5.61 and a 1-year high of $8.65.

Institutional Investors Weigh In On Newpark Resources

Several hedge funds and other institutional investors have recently modified their holdings of NR. Barclays PLC grew its holdings in Newpark Resources by 155.6% during the third quarter. Barclays PLC now owns 160,225 shares of the oil and gas company’s stock worth $1,109,000 after buying an additional 97,548 shares in the last quarter. Geode Capital Management LLC grew its holdings in Newpark Resources by 8.6% during 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 buying an additional 154,210 shares in the last quarter. M&T Bank Corp grew its holdings in Newpark Resources by 29.6% during the third quarter. M&T Bank Corp now owns 310,212 shares of the oil and gas company’s stock worth $2,150,000 after buying an additional 70,863 shares in the last quarter. XTX Topco Ltd grew its holdings in Newpark Resources by 247.2% during the third quarter. XTX Topco Ltd now owns 81,943 shares of the oil and gas company’s stock worth $568,000 after buying an additional 58,341 shares in the last quarter. Finally, Zacks Investment Management grew its holdings in Newpark Resources by 51.2% during the third quarter. Zacks Investment Management now owns 28,704 shares of the oil and gas company’s stock worth $199,000 after buying an additional 9,725 shares in the last quarter. 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.