Ameriprise Financial Inc. cut its holdings in Newpark Resources Inc (NYSE:NR) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 556,257 shares of the oil and gas company’s stock after selling 20,894 shares during the period. Ameriprise Financial Inc. owned about 0.65% of Newpark Resources worth $5,562,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Piedmont Investment Advisors LLC purchased a new stake in shares of Newpark Resources in the 2nd quarter worth approximately $141,000. Bank of New York Mellon Corp lifted its position in shares of Newpark Resources by 27.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock worth $24,481,000 after purchasing an additional 715,250 shares during the period. Chicago Equity Partners LLC purchased a new stake in shares of Newpark Resources in the 2nd quarter worth approximately $1,041,000. Swiss National Bank lifted its position in shares of Newpark Resources by 5.9% in the 3rd quarter. Swiss National Bank now owns 148,600 shares of the oil and gas company’s stock worth $1,486,000 after purchasing an additional 8,300 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Newpark Resources by 58.8% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 33,340 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 12,340 shares during the period.
In other Newpark Resources news, Director G Stephen Finley sold 11,300 shares of Newpark Resources stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $8.79, for a total transaction of $99,327.00. Following the completion of the sale, the director now directly owns 192,658 shares in the company, valued at $1,693,463.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David C. Anderson sold 17,000 shares of Newpark Resources stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the sale, the director now owns 170,841 shares of the company’s stock, valued at $1,522,193.31. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,423 shares of company stock worth $360,346. Insiders own 4.90% of the company’s stock.
Shares of Newpark Resources Inc (NYSE:NR) opened at $9.85 on Friday. Newpark Resources Inc has a 52 week low of $6.40 and a 52 week high of $10.20. The firm has a market cap of $841.20, a price-to-earnings ratio of 246.25 and a beta of 1.58. 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 (NYSE:NR) last announced its quarterly earnings results on Monday, October 30th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The firm 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 business’s quarterly revenue was up 92.8% on a year-over-year basis. During the same period last year, the company posted ($0.16) earnings per share. research analysts forecast that Newpark Resources Inc will post 0.06 EPS for the current fiscal year.
Several research analysts recently commented on the stock. Cowen set a $9.00 price objective on shares of Newpark Resources and gave the stock a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Tuesday, October 24th. Finally, SunTrust Banks upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.50.
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Newpark Resources Company Profile
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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