Newpark Resources’ (NR) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Newpark Resources (NYSE:NR) in a research report sent to investors on Monday morning, Benzinga reports. HC Wainwright currently has a $12.00 price objective on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ Q2 2024 earnings at $0.09 EPS, Q3 2024 earnings at $0.08 EPS, Q4 2024 earnings at $0.11 EPS, FY2024 earnings at $0.36 EPS and FY2025 earnings at $0.45 EPS.

NR has been the topic of a number of other research reports. B. Riley initiated coverage on shares of Newpark Resources in a research note on Tuesday, April 9th. They set a buy rating and a $10.00 price objective on the stock. StockNews.com raised shares of Newpark Resources from a hold rating to a buy rating in a research note on Friday, May 3rd. Roth Capital reissued a buy rating on shares of Newpark Resources in a research report on Friday, March 8th. Finally, Roth Mkm began coverage on Newpark Resources in a research report on Friday, March 8th. They set a buy rating and a $10.00 target price on the stock. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of Buy and an average target price of $11.00.

Newpark Resources Stock Down 0.3 %

Shares of NYSE NR opened at $7.35 on Monday. The stock has a fifty day moving average price of $7.21 and a 200 day moving average price of $6.87. The company has a current ratio of 2.79, a quick ratio of 1.74 and a debt-to-equity ratio of 0.14. Newpark Resources has a 12-month low of $3.40 and a 12-month high of $7.84. The company has a market cap of $625.79 million, a P/E ratio of 40.81 and a beta of 2.78.

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

Institutional Investors Weigh In On Newpark Resources

A number of institutional investors have recently modified their holdings of NR. Dorsey Wright & Associates bought a new position in Newpark Resources during the third quarter worth $32,000. CWM LLC raised its holdings in shares of Newpark Resources by 495.4% during the first 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 during the period. GAMMA Investing LLC bought a new position in shares of Newpark Resources in the 4th quarter worth about $49,000. New York State Teachers Retirement System acquired a new position in shares of Newpark Resources in the 1st quarter valued at about $50,000. Finally, Fortitude Family Office LLC boosted its holdings in shares of Newpark Resources by 179.1% in 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 during the period. Institutional investors and hedge funds 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.