Newpark Resources, Inc. (NYSE:NR) Short Interest Down 22.6% in November

Newpark Resources, Inc. (NYSE:NR) saw a significant decrease in short interest in November. As of November 15th, there was short interest totalling 1,060,000 shares, a decrease of 22.6% from the October 31st total of 1,370,000 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 672,800 shares, the short-interest ratio is currently 1.6 days.

Newpark Resources Trading Up 1.5 %

NYSE:NR opened at $8.29 on Friday. The firm has a market capitalization of $717.09 million, a P/E ratio of -4.53 and a beta of 2.87. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. Newpark Resources has a one year low of $5.61 and a one year high of $8.65. The company’s 50-day simple moving average is $7.17 and its 200 day simple moving average is $7.62.

Institutional Trading of Newpark Resources

A number of hedge funds have recently made changes to their positions in the stock. Barclays PLC grew its stake in shares of Newpark Resources by 155.6% in the 3rd quarter. Barclays PLC now owns 160,225 shares of the oil and gas company’s stock worth $1,109,000 after buying an additional 97,548 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Newpark Resources by 8.6% in the third quarter. Geode Capital Management LLC now owns 1,940,915 shares of the oil and gas company’s stock worth $13,454,000 after acquiring an additional 154,210 shares in the last quarter. M&T Bank Corp grew its stake 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 during the last quarter. XTX Topco Ltd increased its holdings in shares of Newpark Resources by 247.2% during the third quarter. XTX Topco Ltd now owns 81,943 shares of the oil and gas company’s stock valued at $568,000 after acquiring an additional 58,341 shares in the last quarter. Finally, Zacks Investment Management increased its holdings in shares of Newpark Resources by 51.2% during the third quarter. Zacks Investment Management now owns 28,704 shares of the oil and gas company’s stock valued at $199,000 after acquiring an additional 9,725 shares in the last quarter. 80.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on NR. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Company Profile

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.