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

Research analysts at StockNews.com began coverage on shares of Newpark Resources (NYSE:NR) in a note issued to investors on Sunday. The firm set a “hold” rating on the oil and gas company’s stock.

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

Newpark Resources Stock Performance

The company’s 50-day moving average is $7.41 and its 200 day moving average is $7.63. The company has a market cap of $627.10 million, a P/E ratio of 27.89 and a beta of 2.92. Newpark Resources has a 52 week low of $5.61 and a 52 week high of $8.65. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02.

Institutional Trading of Newpark Resources

Hedge funds have recently bought and sold shares of the stock. Ground Swell Capital LLC purchased a new stake in shares of Newpark Resources during the 2nd quarter worth approximately $91,000. EP Wealth Advisors LLC purchased a new stake in Newpark Resources during the third quarter valued at $96,000. Captrust Financial Advisors lifted its position in Newpark Resources by 10.8% during the third quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock valued at $101,000 after purchasing an additional 1,430 shares during the last quarter. SG Americas Securities LLC bought a new position in Newpark Resources during the third quarter valued at $116,000. Finally, CWM LLC grew its stake in shares of Newpark Resources by 79.3% in the 3rd quarter. CWM LLC now owns 17,443 shares of the oil and gas company’s stock worth $121,000 after buying an additional 7,713 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.