Newpark Resources (NYSE:NR) Coverage Initiated by Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of Newpark Resources (NYSE:NR) in a report issued on Tuesday. The firm set a “hold” rating on the oil and gas company’s stock.

Separately, HC Wainwright reissued a “buy” rating and issued 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 MarketBeat.com, Newpark Resources presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Price Performance

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

Hedge Funds Weigh In On Newpark Resources

A number of hedge funds have recently modified their holdings of the stock. M&T Bank Corp increased its position in shares of Newpark Resources by 29.6% in 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 in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Newpark Resources by 10.2% in 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 buying an additional 2,730 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Newpark Resources by 125.4% during 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 acquiring an additional 425,505 shares during the period. Victory Capital Management Inc. bought a new stake in Newpark Resources during the 3rd quarter valued at approximately $1,357,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Newpark Resources by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock worth $269,000 after buying an additional 4,255 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

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.