Great West Life Assurance Co. Can reduced its stake in Newpark Resources Inc (NYSE:NR) by 8.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 117,978 shares of the oil and gas company’s stock after selling 10,469 shares during the period. Great West Life Assurance Co. Can owned 0.14% of Newpark Resources worth $1,191,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the business. Daruma Capital Management LLC lifted its holdings in Newpark Resources by 221.1% in the second quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock valued at $42,852,000 after acquiring an additional 4,014,692 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 during the period. William Blair Investment Management LLC acquired a new stake in Newpark Resources in the second quarter valued at $5,013,000. Vanguard Group Inc. increased its position in shares of 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 buying an additional 393,328 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Newpark Resources by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,467,396 shares of the oil and gas company’s stock valued at $54,886,000 after buying an additional 347,306 shares in the last quarter.
A number of brokerages have recently weighed in on NR. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Tuesday, October 24th. Cowen set a $9.00 price target on Newpark Resources and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, SunTrust Banks upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.25.
Shares of Newpark Resources Inc (NR) opened at $8.65 on Friday. The company has a market capitalization of $729.61, a PE ratio of 216.30 and a beta of 1.58. Newpark Resources Inc has a 52-week low of $6.40 and a 52-week high of $10.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.96 and a current ratio of 2.71.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Monday, October 30th. The oil and gas company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The company’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.16) EPS. analysts expect that Newpark Resources Inc will post 0.06 earnings per share for the current year.
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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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