Brokerages Set Newpark Resources, Inc. (NYSE:NR) PT at $11.00

Newpark Resources, Inc. (NYSE:NR) has been assigned an average recommendation of “Buy” from the four ratings firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $11.00.

A number of analysts recently commented on NR shares. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Monday, November 11th. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd.

Newpark Resources Stock Down 2.5 %

Shares of NR stock opened at $7.74 on Friday. The stock’s fifty day moving average price is $7.38 and its 200 day moving average price is $7.64. Newpark Resources has a 1-year low of $5.61 and a 1-year high of $8.65. The company has a market cap of $669.49 million, a price-to-earnings ratio of -4.23 and a beta of 2.92. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00.

Institutional Trading of Newpark Resources

Hedge funds have recently modified their holdings of the stock. State Street Corp boosted its holdings in Newpark Resources by 3.2% during the third quarter. State Street Corp now owns 2,274,460 shares of the oil and gas company’s stock worth $15,762,000 after buying an additional 69,802 shares in the last quarter. Royce & Associates LP grew its position in shares of Newpark Resources by 2.9% during the 3rd quarter. Royce & Associates LP now owns 2,191,552 shares of the oil and gas company’s stock valued at $15,187,000 after acquiring an additional 61,128 shares during the period. Geode Capital Management LLC grew its position in shares of Newpark Resources by 8.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock valued at $13,454,000 after acquiring an additional 154,210 shares during the period. American Century Companies Inc. increased its stake in shares of Newpark Resources by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock valued at $15,720,000 after purchasing an additional 313,451 shares in the last quarter. Finally, Pennant Select LLC grew its holdings in Newpark Resources by 65.0% in the third quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company’s stock valued at $6,861,000 after purchasing an additional 390,000 shares during the period. 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.