Russell Investments Group Ltd. purchased a new stake in Newpark Resources Inc (NYSE:NR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 755,830 shares of the oil and gas company’s stock, valued at approximately $5,605,000. Russell Investments Group Ltd. owned about 0.84% of Newpark Resources at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in NR. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Newpark Resources by 6.9% in 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 grew its stake in shares of Newpark Resources by 12.9% in the 2nd quarter. Foundry Partners LLC now owns 696,390 shares of the oil and gas company’s stock valued at $5,167,000 after buying an additional 79,600 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Newpark Resources by 0.5% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,640,664 shares of the oil and gas company’s stock valued at $15,029,000 after buying an additional 8,887 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Newpark Resources by 461.6% in the 2nd quarter. SG Americas Securities LLC now owns 168,060 shares of the oil and gas company’s stock valued at $1,247,000 after buying an additional 138,137 shares in the last quarter. Finally, Hillcrest Asset Management LLC lifted its holdings in Newpark Resources by 35.9% in the 1st quarter. Hillcrest Asset Management LLC now owns 804,936 shares of the oil and gas company’s stock worth $7,373,000 after purchasing an additional 212,764 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.
NR traded up $0.07 on Friday, hitting $7.57. The company had a trading volume of 10,102 shares, compared to its average volume of 421,022. The company’s fifty day moving average price is $6.86 and its 200 day moving average price is $7.59. Newpark Resources Inc has a 1-year low of $6.06 and a 1-year high of $10.90. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.57 and a quick ratio of 2.23. The stock has a market cap of $670.96 million, a price-to-earnings ratio of 18.43 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 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The company had revenue of $216.41 million during the quarter, compared to analyst estimates of $216.63 million. Newpark Resources had a return on equity of 5.10% and a net margin of 2.17%. The firm’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 earnings per share. On average, sell-side analysts forecast that Newpark Resources Inc will post 0.26 EPS for the current year.
NR has been the subject of several analyst reports. ValuEngine lowered Newpark Resources from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Raymond James set a $12.00 target price on Newpark Resources and gave the stock a “buy” rating in a report on Wednesday, July 3rd. Finally, Zacks Investment Research lowered Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. Newpark Resources currently has an average rating of “Hold” and a consensus target price of $12.00.
About Newpark Resources
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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