StockNews.com Begins Coverage on Newpark Resources (NYSE:NR)

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

Separately, HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price 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 MarketBeat, Newpark Resources presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Performance

The firm has a 50-day moving average price of $7.41 and a 200-day moving average price of $7.63. Newpark Resources has a 1-year low of $5.61 and a 1-year high of $8.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The stock has a market capitalization of $627.10 million, a price-to-earnings ratio of 27.89 and a beta of 2.92.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NR. M&T Bank Corp increased its stake in Newpark Resources by 29.6% during the third 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. Oppenheimer Asset Management Inc. lifted its holdings in shares of Newpark Resources by 10.2% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 2,730 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in 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 period. Victory Capital Management Inc. purchased a new stake in shares of Newpark Resources in the third quarter worth about $1,357,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Newpark Resources by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 4,255 shares during the period. Hedge funds and other institutional investors own 80.81% of the company’s stock.

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.