Newpark Resources (NYSE:NR) Now Covered by StockNews.com

StockNews.com started coverage on shares of Newpark Resources (NYSE:NR) in a research report sent to investors on Saturday. The firm issued a hold rating on the oil and gas company’s stock.

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

Newpark Resources Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The stock has a market cap of $627.10 million, a price-to-earnings ratio of 27.89 and a beta of 2.92. Newpark Resources has a twelve month low of $5.61 and a twelve month high of $8.65. The firm’s 50 day simple moving average is $7.41 and its two-hundred day simple moving average is $7.63.

Institutional Trading of Newpark Resources

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Newpark Resources by 17.7% during the second quarter. Bank of New York Mellon Corp now owns 348,611 shares of the oil and gas company’s stock worth $2,897,000 after purchasing an additional 52,494 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in shares of Newpark Resources in the 2nd quarter valued at $189,000. Principal Financial Group Inc. increased its stake in shares of Newpark Resources by 9.6% in the second quarter. Principal Financial Group Inc. now owns 37,348 shares of the oil and gas company’s stock worth $310,000 after acquiring an additional 3,270 shares during the period. Rothschild Investment LLC purchased a new position in shares of Newpark Resources during the second quarter worth $882,000. Finally, Ritholtz Wealth Management raised its holdings in shares of Newpark Resources by 22.0% during the second quarter. Ritholtz Wealth Management now owns 189,623 shares of the oil and gas company’s stock worth $1,576,000 after purchasing an additional 34,148 shares during 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.