Chicago Equity Partners LLC boosted its stake in Newpark Resources, Inc. (NYSE:NR) by 58.7% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 224,775 shares of the company’s stock after buying an additional 83,125 shares during the quarter. Chicago Equity Partners LLC owned approximately 0.26% of Newpark Resources worth $2,248,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new stake in Newpark Resources in the 2nd quarter valued at approximately $141,000. Ameriprise Financial Inc. lifted its stake in Newpark Resources by 4.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 577,151 shares of the company’s stock valued at $4,245,000 after buying an additional 26,342 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Newpark Resources by 27.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the company’s stock valued at $24,481,000 after buying an additional 715,250 shares in the last quarter. Royce & Associates LP lifted its stake in Newpark Resources by 5.6% in the 2nd quarter. Royce & Associates LP now owns 3,163,261 shares of the company’s stock valued at $23,250,000 after buying an additional 166,700 shares in the last quarter. Finally, Louisiana State Employees Retirement System lifted its stake in Newpark Resources by 4.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 36,200 shares of the company’s stock valued at $266,000 after buying an additional 1,700 shares in the last quarter.
Newpark Resources, Inc. (NYSE:NR) opened at C$9.65 on Friday. The company has a quick ratio of 1.96, a current ratio of 2.71 and a debt-to-equity ratio of 0.27. Newpark Resources, Inc. has a twelve month low of C$6.25 and a twelve month high of C$10.20.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Monday, October 30th. The company reported C$0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$0.04 by C($0.01). The business had revenue of C$201.70 million during the quarter, compared to analyst estimates of C$192.57 million. Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. The company’s revenue was up 92.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.16) earnings per share. equities research analysts predict that Newpark Resources, Inc. will post 0.06 EPS for the current fiscal year.
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NR has been the topic of a number of recent research reports. Zacks Investment Research lowered Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. BidaskClub lowered Newpark Resources from a “sell” rating to a “strong sell” rating in a research note on Friday, July 28th. 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. Finally, SunTrust Banks, Inc. raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of C$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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