Miles Capital Inc. lifted its holdings in shares of Newpark Resources Inc (NYSE:NR) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,557 shares of the oil and gas company’s stock after buying an additional 1,459 shares during the period. Miles Capital Inc.’s holdings in Newpark Resources were worth $123,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in NR. Vaughan Nelson Investment Management L.P. raised its position in Newpark Resources by 6.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock valued at $30,143,000 after purchasing an additional 212,325 shares in the last quarter. Foundry Partners LLC raised its stake in shares of Newpark Resources by 12.9% in the second quarter. Foundry Partners LLC now owns 696,390 shares of the oil and gas company’s stock valued at $5,167,000 after acquiring an additional 79,600 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Newpark Resources by 1.7% in the second quarter. Rockefeller Capital Management L.P. now owns 1,668,105 shares of the oil and gas company’s stock valued at $12,378,000 after acquiring an additional 27,441 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of Newpark Resources by 461.6% in the second quarter. SG Americas Securities LLC now owns 168,060 shares of the oil and gas company’s stock valued at $1,247,000 after acquiring an additional 138,137 shares in the last quarter. Finally, Monarch Partners Asset Management LLC raised its stake in shares of Newpark Resources by 65.3% in the first quarter. Monarch Partners Asset Management LLC now owns 733,398 shares of the oil and gas company’s stock valued at $6,718,000 after acquiring an additional 289,635 shares in the last quarter. 99.59% of the stock is currently owned by institutional investors.
Shares of NR traded up $0.17 during midday trading on Friday, reaching $7.67. 29,246 shares of the stock were exchanged, compared to its average volume of 421,022. The business’s 50-day moving average price is $6.86 and its 200 day moving average price is $7.59. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.57 and a quick ratio of 2.23. Newpark Resources Inc has a twelve month low of $6.06 and a twelve month high of $10.90. The company has a market capitalization of $670.96 million, a price-to-earnings ratio of 18.72 and a beta of 1.53.
Newpark Resources (NYSE:NR) last posted its earnings results on Tuesday, July 30th. The oil and gas company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). Newpark Resources had a return on equity of 5.10% and a net margin of 2.17%. The firm had revenue of $216.41 million for the quarter, compared to analyst estimates of $216.63 million. During the same quarter last year, the firm posted $0.12 EPS. The firm’s revenue for the quarter was down 8.4% on a year-over-year basis. As a group, equities research analysts expect that Newpark Resources Inc will post 0.26 earnings per share for the current fiscal year.
A number of research firms have weighed in on NR. ValuEngine cut Newpark Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Raymond James set a $12.00 price target on Newpark Resources and gave the company a “buy” rating in a research note on Wednesday, July 3rd. Finally, Zacks Investment Research cut Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. Newpark Resources presently has a consensus rating of “Hold” and an average price target of $12.00.
Newpark Resources Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.
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