Newpark Resources’ (NR) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Newpark Resources (NYSE:NR) in a report released on Monday,Benzinga reports. They currently have a $12.00 target price on the oil and gas company’s stock. HC Wainwright also issued estimates for Newpark Resources’ FY2024 earnings at $0.42 EPS, Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.08 EPS, Q4 2025 earnings at $0.09 EPS and FY2025 earnings at $0.34 EPS.

Separately, StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Stock Down 2.0 %

NYSE:NR opened at $7.28 on Monday. The firm has a market capitalization of $629.50 million, a PE ratio of -3.98 and a beta of 2.87. The stock has a 50 day moving average of $7.10 and a 200-day moving average of $7.59. 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.

Hedge Funds Weigh In On Newpark Resources

Several institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets grew its stake in Newpark Resources by 529.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 43,138 shares of the oil and gas company’s stock valued at $299,000 after acquiring an additional 36,286 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Newpark Resources in the 3rd quarter valued at approximately $471,000. Fisher Asset Management LLC grew its stake in shares of Newpark Resources by 6.6% in the 3rd quarter. Fisher Asset Management LLC now owns 239,286 shares of the oil and gas company’s stock valued at $1,658,000 after buying an additional 14,802 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Newpark Resources by 125.4% in the 3rd 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 buying an additional 425,505 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Newpark Resources in the 3rd quarter valued at approximately $195,000. 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.