Newpark Resources (NYSE:NR) Earns Buy Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Newpark Resources (NYSE:NR) in a research note published 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’ FY2024 earnings at $0.42 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS and FY2025 earnings at $0.34 EPS.

Separately, StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Newpark Resources has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

NR opened at $7.12 on Monday. Newpark Resources has a 12 month low of $5.61 and a 12 month high of $8.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The business has a 50-day moving average of $7.08 and a two-hundred day moving average of $7.59.

Hedge Funds Weigh In On Newpark Resources

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC increased its holdings in shares of Newpark Resources by 114.5% in the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after purchasing an additional 5,193 shares during the last quarter. Ground Swell Capital LLC acquired a new stake in shares of Newpark Resources during the 2nd quarter worth $91,000. Oppenheimer Asset Management Inc. bought a new position in Newpark Resources in the 1st quarter valued at about $86,000. Catalina Capital Group LLC increased its stake in Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 1,360 shares during the last quarter. Finally, Captrust Financial Advisors raised its holdings in shares of Newpark Resources by 10.8% during the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after buying an additional 1,430 shares in the last quarter. 80.81% of the stock is 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.