Newpark Resources (NYSE:NR) PT Raised to $11.00 at B. Riley

Newpark Resources (NYSE:NR) had its target price raised by investment analysts at B. Riley from $10.00 to $11.00 in a report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the oil and gas company’s stock. B. Riley’s price objective suggests a potential upside of 49.25% from the company’s previous close. B. Riley also issued estimates for Newpark Resources’ Q2 2024 earnings at $0.08 EPS, FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.39 EPS.

NR has been the subject of a number of other reports. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday. Roth Mkm initiated coverage on shares of Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 target price on the stock. Finally, Roth Capital restated a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $11.00.

Newpark Resources Stock Up 2.9 %

NYSE:NR opened at $7.37 on Monday. The stock has a fifty day simple moving average of $7.19 and a 200-day simple moving average of $6.86. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. The company has a market cap of $627.92 million, a price-to-earnings ratio of 40.95 and a beta of 2.78. Newpark Resources has a twelve month low of $3.40 and a twelve month high of $7.84.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $167.82 million during the quarter, compared to analysts’ expectations of $170.87 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. Analysts anticipate that Newpark Resources will post 0.3 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Dorsey Wright & Associates purchased a new position in Newpark Resources in the third quarter worth $32,000. CWM LLC boosted its position in shares of Newpark Resources by 495.4% in the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares in the last quarter. GAMMA Investing LLC purchased a new position in Newpark Resources during the 4th quarter worth $49,000. New York State Teachers Retirement System purchased a new position in Newpark Resources during the 1st quarter worth $50,000. Finally, Fortitude Family Office LLC increased its position in Newpark Resources by 179.1% during the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock valued at $53,000 after buying an additional 4,751 shares in the last quarter. Hedge funds and other 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.