Newpark Resources (NYSE:NR) Shares Gap Up to $7.02

Shares of Newpark Resources, Inc. (NYSE:NR) gapped up prior to trading on Friday . The stock had previously closed at $7.02, but opened at $7.46. Newpark Resources shares last traded at $7.30, with a volume of 165,119 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NR shares. StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research report on Friday. 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 for the company. Roth Capital reissued a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Finally, B. Riley initiated coverage on shares of Newpark Resources in a research note on Tuesday, April 9th. They set a “buy” rating and a $10.00 price target on the stock. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.75.

Newpark Resources Price Performance

The firm has a market capitalization of $604.92 million, a P/E ratio of 39.45 and a beta of 2.78. The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average price of $7.15 and a 200-day moving average price of $6.86.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $167.82 million for the quarter, compared to analysts’ expectations of $170.87 million. Newpark Resources had a return on equity of 6.70% and a net margin of 2.25%. On average, analysts expect that Newpark Resources, Inc. will post 0.3 earnings per share for the current year.

Hedge Funds Weigh In On Newpark Resources

Large investors have recently bought and sold shares of the business. Riverwater Partners LLC increased its stake in Newpark Resources by 4.4% in the first quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock worth $543,000 after purchasing an additional 3,140 shares during the period. Kure Advisory LLC grew its holdings in shares of Newpark Resources by 20.0% in the fourth quarter. Kure Advisory LLC now owns 20,204 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 3,363 shares during the last quarter. CWM LLC increased its stake in Newpark Resources by 495.4% in the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after buying an additional 3,775 shares during the period. Bank of New York Mellon Corp lifted its holdings in Newpark Resources by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 317,935 shares of the oil and gas company’s stock valued at $2,197,000 after buying an additional 4,105 shares in the last quarter. Finally, Dorsey Wright & Associates purchased a new stake in Newpark Resources in the 3rd quarter valued at about $32,000. 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.