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

Shares of Newpark Resources, Inc. (NYSE:NR) have been assigned a consensus recommendation of “Buy” from the four analysts that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a buy recommendation. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $11.00.

NR has been the subject of a number of recent analyst reports. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a report on Monday, November 11th.

Newpark Resources Trading Up 1.9 %

Shares of NR opened at $7.92 on Monday. Newpark Resources has a one year low of $5.61 and a one year high of $8.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The firm has a 50-day moving average of $7.11 and a 200-day moving average of $7.60.

Institutional Investors Weigh In On Newpark Resources

A number of hedge funds and other institutional investors have recently modified their holdings of NR. Charles Schwab Investment Management Inc. raised its stake in 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 worth $5,301,000 after purchasing an additional 425,505 shares in the last quarter. Ancora Advisors LLC boosted its stake in shares of Newpark Resources by 182.5% in the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock valued at $4,678,000 after buying an additional 418,570 shares during the period. Pennant Select LLC grew its position in Newpark Resources by 65.0% during the third quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company’s stock worth $6,861,000 after buying an additional 390,000 shares in the last quarter. Russell Investments Group Ltd. increased its stake in Newpark Resources by 210.2% during the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after acquiring an additional 349,935 shares during the period. Finally, American Century Companies Inc. raised its holdings in 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 acquiring an additional 313,451 shares in the last quarter. Institutional investors and hedge funds 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.