Crestline Management LP purchased a new position in Newpark Resources Inc (NYSE:NR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 24,592 shares of the oil and gas company’s stock, valued at approximately $211,000.
Other large investors have also modified their holdings of the company. BlackRock Inc. raised 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 worth $102,517,000 after purchasing an additional 48,750 shares during the period. Bank of New York Mellon Corp raised 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 worth $35,158,000 after purchasing an additional 533,813 shares during the period. Clearbridge Investments LLC raised 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 worth $32,733,000 after purchasing an additional 47,271 shares during the period. Royce & Associates LP raised 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 worth $27,497,000 after purchasing an additional 128,296 shares during the period. Finally, State Street Corp raised 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 worth $17,865,000 after purchasing an additional 7,278 shares during the period.
In other news, EVP Bruce Campbell Smith sold 43,750 shares of Newpark Resources stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $8.47, for a total value of $370,562.50. Following the completion of the transaction, the executive vice president now owns 292,942 shares in the company, valued at approximately $2,481,218.74. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.90% of the stock is currently owned by company insiders.
A number of research firms have recently commented 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. Cowen set a $10.00 target price on Newpark Resources and gave the company a “hold” rating in a report on Thursday, January 11th. Finally, Zacks Investment Research downgraded Newpark Resources from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.50.
Shares of NYSE:NR traded down $0.10 during mid-day trading on Friday, hitting $8.70. 737,714 shares of the company traded hands, compared to its average volume of 585,608. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.14 and a current ratio of 3.19. Newpark Resources Inc has a 52-week low of $6.57 and a 52-week high of $10.20. The company has a market cap of $776.21, a P/E ratio of 87.00 and a beta of 1.53.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, February 8th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $204.40 million for the quarter, compared to the consensus estimate of $202.55 million. Newpark Resources’s quarterly revenue was up 49.1% compared to the same quarter last year. analysts predict that Newpark Resources Inc will post 0.39 earnings per share for the current year.
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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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