Newpark Resources (NYSE:NR) Receives New Coverage from Analysts at B. Riley

B. Riley assumed coverage on shares of Newpark Resources (NYSE:NR) in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $10.00 price objective on the oil and gas company’s stock.

NR has been the topic of several other research reports. Roth Mkm started coverage on Newpark Resources in a research report on Friday, March 8th. They set a buy rating and a $10.00 target price on the stock. StockNews.com downgraded Newpark Resources from a buy rating to a hold rating in a research note on Friday, February 23rd. TheStreet downgraded Newpark Resources from a b- rating to a c+ rating in a research note on Thursday, January 4th. Finally, Roth Capital restated a buy rating on shares of Newpark Resources in a research note on Friday, March 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $10.75.

Newpark Resources Price Performance

Shares of NYSE NR opened at $7.52 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.59 and a current ratio of 2.62. Newpark Resources has a fifty-two week low of $3.40 and a fifty-two week high of $7.80. The firm has a market capitalization of $640.70 million, a PE ratio of 47.00 and a beta of 2.75. The stock’s 50-day simple moving average is $6.74 and its 200-day simple moving average is $6.79.

Newpark Resources (NYSE:NR) last issued its earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Newpark Resources had a return on equity of 6.53% and a net margin of 1.94%. The business had revenue of $167.82 million for the quarter, compared to analyst estimates of $170.87 million. As a group, equities research analysts forecast that Newpark Resources will post 0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Dorsey Wright & Associates purchased a new stake in shares of Newpark Resources in the third quarter valued at approximately $32,000. CWM LLC raised its holdings in shares of Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 3,775 shares during the last quarter. UBS Group AG raised its holdings in shares of Newpark Resources by 374.4% in the third quarter. UBS Group AG now owns 13,410 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 10,583 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Newpark Resources by 252.0% in the first quarter. Captrust Financial Advisors now owns 10,288 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 7,365 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new stake in shares of Newpark Resources in the first quarter valued at $41,000. 80.81% of the stock is currently owned by hedge funds and other 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.