Shares of Newpark Resources Inc. (NYSE:NR) shot up 5.6% on Friday . The company traded as high as $6.94 and last traded at $6.93, with a volume of 367,492 shares. The stock had previously closed at $6.56.

A number of brokerages have weighed in on NR. Credit Suisse Group AG set a $7.00 target price on shares of Newpark Resources and gave the stock a “buy” rating in a report on Monday, August 1st. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a report on Wednesday, July 6th. Capital One Financial Corp. raised shares of Newpark Resources from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $5.00 to $6.00 in a report on Wednesday, June 15th. Finally, Tudor Pickering raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $6.67.

The company’s market capitalization is $585.72 million. The stock’s 50-day moving average price is $5.84 and its 200 day moving average price is $4.81.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.09. During the same quarter in the previous year, the business posted ($0.03) EPS. The company earned $115.30 million during the quarter, compared to analyst estimates of $106.93 million. The company’s revenue was down 29.5% on a year-over-year basis. Equities research analysts forecast that Newpark Resources Inc. will post ($0.56) earnings per share for the current fiscal year.

A hedge fund recently raised its stake in Newpark Resources stock. Royce & Associates LLC increased its stake in Newpark Resources Inc. (NYSE:NR) by 19.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,376,431 shares of the company’s stock after buying an additional 381,825 shares during the period. Royce & Associates LLC owned 2.82% of Newpark Resources worth $12,548,000 at the end of the most recent reporting period.

Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.

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