Newpark Resources (NYSE:NR) Trading Up 7.9%

Newpark Resources Inc (NYSE:NR) shares were up 7.9% during mid-day trading on Wednesday . The company traded as high as $4.53 and last traded at $4.49, approximately 1,197,700 shares changed hands during mid-day trading. An increase of 34% from the average daily volume of 896,778 shares. The stock had previously closed at $4.16.

A number of equities analysts have issued reports on NR shares. Raymond James set a $9.00 target price on Newpark Resources and gave the stock a “buy” rating in a report on Friday, November 1st. Zacks Investment Research raised Newpark Resources from a “sell” rating to a “hold” rating in a report on Friday. Finally, TheStreet cut Newpark Resources from a “c” rating to a “d+” rating in a report on Friday, February 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $10.17.

The business has a fifty day simple moving average of $5.37 and a 200-day simple moving average of $6.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.19 and a current ratio of 3.72. The firm has a market cap of $385.77 million, a price-to-earnings ratio of -28.20 and a beta of 1.55.

In related news, CEO Paul L. Howes purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $5.84 per share, with a total value of $87,600.00. Following the completion of the purchase, the chief executive officer now owns 855,354 shares in the company, valued at approximately $4,995,267.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Douglas L. White sold 6,145 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $6.07, for a total value of $37,300.15. Following the completion of the sale, the chief accounting officer now directly owns 47,580 shares of the company’s stock, valued at approximately $288,810.60. The disclosure for this sale can be found here. 5.20% of the stock is owned by corporate insiders.

Hedge funds have recently modified their holdings of the company. Millennium Management LLC acquired a new stake in shares of Newpark Resources in the third quarter valued at about $195,000. State of Tennessee Treasury Department increased its stake in shares of Newpark Resources by 76.5% in the third quarter. State of Tennessee Treasury Department now owns 63,615 shares of the oil and gas company’s stock valued at $485,000 after buying an additional 27,575 shares during the period. California Public Employees Retirement System increased its stake in shares of Newpark Resources by 16.4% in the third quarter. California Public Employees Retirement System now owns 176,877 shares of the oil and gas company’s stock valued at $1,348,000 after buying an additional 24,900 shares during the period. Dalton Greiner Hartman Maher & Co. increased its stake in shares of Newpark Resources by 25.9% in the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 699,941 shares of the oil and gas company’s stock valued at $4,389,000 after buying an additional 143,906 shares during the period. Finally, Dupont Capital Management Corp acquired a new stake in shares of Newpark Resources in the third quarter valued at about $421,000. 99.95% of the stock is owned by institutional investors.

About Newpark Resources (NYSE:NR)

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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