Newpark Resources (NYSE:NR) Coverage Initiated by Analysts at StockNews.com

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

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

Newpark Resources Stock Performance

The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $627.10 million, a P/E ratio of 27.89 and a beta of 2.92. The company has a fifty day simple moving average of $7.41 and a 200 day simple moving average of $7.63. Newpark Resources has a 1 year low of $5.61 and a 1 year high of $8.65.

Institutional Trading of Newpark Resources

A number of institutional investors and hedge funds have recently bought and sold shares of NR. Barclays PLC lifted its position in shares of Newpark Resources by 155.6% in the 3rd quarter. Barclays PLC now owns 160,225 shares of the oil and gas company’s stock worth $1,109,000 after purchasing an additional 97,548 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Newpark Resources by 8.6% in the third quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock valued at $13,454,000 after purchasing an additional 154,210 shares in the last quarter. M&T Bank Corp boosted its holdings in Newpark Resources by 29.6% during the 3rd quarter. M&T Bank Corp now owns 310,212 shares of the oil and gas company’s stock worth $2,150,000 after acquiring an additional 70,863 shares during the last quarter. XTX Topco Ltd boosted 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 purchasing an additional 58,341 shares during the last quarter. Finally, Zacks Investment Management grew its holdings in shares of Newpark Resources by 51.2% in the third quarter. Zacks Investment Management now owns 28,704 shares of the oil and gas company’s stock valued at $199,000 after acquiring an additional 9,725 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.