Earnest Partners LLC decreased its position in Newpark Resources Inc (NYSE:NR) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 265,636 shares of the oil and gas company’s stock after selling 12,800 shares during the quarter. Earnest Partners LLC owned 0.31% of Newpark Resources worth $2,284,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NR. BlackRock Inc. grew its holdings in shares of Newpark Resources by 0.4% in the 4th quarter. BlackRock Inc. now owns 11,920,557 shares of the oil and gas company’s stock valued at $102,517,000 after acquiring an additional 48,750 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Newpark Resources by 15.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,088,225 shares of the oil and gas company’s stock valued at $35,158,000 after acquiring an additional 533,813 shares in the last quarter. Clearbridge Investments LLC grew its holdings in shares of Newpark Resources by 1.3% in the 4th quarter. Clearbridge Investments LLC now owns 3,806,128 shares of the oil and gas company’s stock valued at $32,733,000 after acquiring an additional 47,271 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Newpark Resources by 4.2% in the 4th quarter. Royce & Associates LP now owns 3,197,357 shares of the oil and gas company’s stock valued at $27,497,000 after acquiring an additional 128,296 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Newpark Resources by 0.3% in the 2nd quarter. State Street Corp now owns 2,430,413 shares of the oil and gas company’s stock valued at $17,865,000 after acquiring an additional 7,278 shares in the last quarter.
In related news, EVP Bruce Campbell Smith sold 43,750 shares of Newpark Resources stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $8.47, for a total transaction of $370,562.50. Following the completion of the transaction, the executive vice president now owns 292,942 shares in the company, valued at $2,481,218.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.90% of the company’s stock.
Newpark Resources stock traded down $0.10 during midday trading on Friday, reaching $8.70. 737,714 shares of the company’s stock were exchanged, compared to its average volume of 585,608. Newpark Resources Inc has a 52 week low of $6.57 and a 52 week high of $10.20. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.14 and a current ratio of 3.19. The stock has a market capitalization of $785.12, a P/E ratio of 87.00 and a beta of 1.53.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, February 8th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Newpark Resources had a positive return on equity of 1.59% and a negative net margin of 0.82%. The business had revenue of $204.40 million during the quarter, compared to analysts’ expectations of $202.55 million. The business’s revenue was up 49.1% compared to the same quarter last year. research analysts forecast that Newpark Resources Inc will post 0.39 earnings per share for the current year.
Several brokerages have recently weighed in on NR. ValuEngine upgraded Newpark Resources from a “sell” rating to a “hold” rating in a report on Friday. Johnson Rice upgraded Newpark Resources from a “hold” rating to a “buy” rating in a report on Monday, March 5th. Zacks Investment Research upgraded Newpark Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Finally, Cowen set a $10.00 price objective on Newpark Resources and gave the company a “hold” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $10.50.
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Newpark Resources Company Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.
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