Newpark Resources (NR) Stock Rising as Oil Prices Rebound

NEW YORK (TheStreet) -- Shares of Newpark Resources (NR) are up by 1.61% to $7.58 in early afternoon trading on Tuesday, as some energy and related stocks get a jolt from today's rally in oil prices.

Newpark Resources is The Woodlands, TX.-based oil and gas manufacturer and supplier.

The price of the commodity began the day in the red then rebounded ahead of the release of U.S. inventory data, which is expected to show a strong demand for gasoline, Reuters reports.

Crude oil (WTI) is gaining by 1.41% to $61.23 per barrel and Brent crude is up by 1.78% to $64.47 per barrel this afternoon, according to the index.

Another factor giving prices a boost is signs there could be trouble with the approaching Iranian nuclear deal, Reuters said. The issues could result in delays to Tehran's hopes Western sanctions on its oil exports will be lifted.

Separately, TheStreet Ratings team rates NEWPARK RESOURCES as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate NEWPARK RESOURCES (NR) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income."

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