California Public Employees Retirement System decreased its position in Newpark Resources, Inc. (NYSE:NR) by 24.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 294,400 shares of the oil and gas company’s stock after selling 96,700 shares during the quarter. California Public Employees Retirement System owned 0.34% of Newpark Resources worth $2,164,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of NR. BlackRock Inc. grew its position in Newpark Resources by 60,897.4% in the first quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock valued at $102,364,000 after acquiring an additional 12,616,732 shares in the last quarter. Bank of New York Mellon Corp grew its position in Newpark Resources by 27.3% in the second quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock valued at $24,481,000 after acquiring an additional 715,250 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in Newpark Resources in the second quarter valued at approximately $5,013,000. Vanguard Group Inc. grew its position in Newpark Resources by 5.3% in the second quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock valued at $57,266,000 after acquiring an additional 393,328 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in Newpark Resources by 27.2% in the first quarter. Teachers Advisors LLC now owns 1,314,934 shares of the oil and gas company’s stock valued at $10,651,000 after acquiring an additional 281,549 shares in the last quarter.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Monday, October 30th. The oil and gas company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The business had revenue of $201.70 million during the quarter, compared to the consensus estimate of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The business’s quarterly revenue was up 92.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.16) earnings per share.
Several analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. BidaskClub cut Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Cowen and Company set a $9.00 target price on Newpark Resources and gave the company a “hold” rating in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. Newpark Resources presently has a consensus rating of “Buy” and a consensus target price of $9.80.
About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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