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

StockNews.com began coverage on shares of Newpark Resources (NYSE:NR) in a report released on Tuesday morning. The firm issued a hold rating on the oil and gas company’s stock.

Separately, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Performance

The stock has a market capitalization of $627.10 million, a price-to-earnings ratio of 27.89 and a beta of 2.92. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. Newpark Resources has a 1-year low of $5.61 and a 1-year high of $8.65. The stock’s 50-day moving average price is $7.41 and its two-hundred day moving average price is $7.63.

Institutional Investors Weigh In On Newpark Resources

Several large investors have recently modified their holdings of the business. State Street Corp lifted its holdings in shares of Newpark Resources by 3.2% in the third quarter. State Street Corp now owns 2,274,460 shares of the oil and gas company’s stock valued at $15,762,000 after purchasing an additional 69,802 shares in the last quarter. Royce & Associates LP lifted its stake in Newpark Resources by 2.9% in the 3rd quarter. Royce & Associates LP now owns 2,191,552 shares of the oil and gas company’s stock valued at $15,187,000 after acquiring an additional 61,128 shares in the last quarter. Geode Capital Management LLC boosted its position in Newpark Resources by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock worth $13,454,000 after acquiring an additional 154,210 shares during the last quarter. Pennant Select LLC grew its stake in shares of Newpark Resources by 65.0% during the 3rd quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company’s stock worth $6,861,000 after acquiring an additional 390,000 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Newpark Resources by 125.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 764,873 shares of the oil and gas company’s stock valued at $5,301,000 after purchasing an additional 425,505 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors.

Newpark Resources Company Profile

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.