Northern Trust Corp increased its holdings in Newpark Resources Inc (NYSE:NR) by 0.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,006,810 shares of the oil and gas company’s stock after acquiring an additional 8,471 shares during the quarter. Northern Trust Corp owned approximately 3.37% of Newpark Resources worth $24,356,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in NR. Crestline Management LP acquired a new position in shares of Newpark Resources in the fourth quarter worth about $211,000. GW&K Investment Management LLC lifted its stake in shares of Newpark Resources by 40.7% in the first quarter. GW&K Investment Management LLC now owns 29,440 shares of the oil and gas company’s stock worth $238,000 after acquiring an additional 8,515 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in Newpark Resources during the fourth quarter valued at approximately $247,000. Metropolitan Life Insurance Co. NY acquired a new stake in Newpark Resources during the fourth quarter valued at approximately $256,000. Finally, MetLife Investment Advisors LLC acquired a new stake in Newpark Resources during the fourth quarter valued at approximately $360,000. Institutional investors and hedge funds own 97.64% of the company’s stock.
NR has been the topic of several research reports. Johnson Rice upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. ValuEngine cut Newpark Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, March 28th. Finally, Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.50.
In other news, VP Matthew Lanigan sold 18,913 shares of the company’s stock in a transaction that occurred on Wednesday, May 2nd. The stock was sold at an average price of $10.52, for a total transaction of $198,964.76. Following the completion of the transaction, the vice president now directly owns 25,000 shares of the company’s stock, valued at $263,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark J. Airola sold 127,250 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $10.34, for a total value of $1,315,765.00. Following the transaction, the insider now directly owns 466,205 shares of the company’s stock, valued at $4,820,559.70. The disclosure for this sale can be found here. Insiders have sold 363,908 shares of company stock worth $3,779,341 in the last 90 days. 4.80% of the stock is currently owned by insiders.
Shares of Newpark Resources opened at $11.00 on Friday, according to Marketbeat.com. Newpark Resources Inc has a 52-week low of $6.60 and a 52-week high of $11.15. The company has a market cap of $906.50 million, a price-to-earnings ratio of 110.00 and a beta of 1.46. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.32 and a current ratio of 3.60.
Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Thursday, April 26th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.08. Newpark Resources had a return on equity of 3.10% and a net margin of 0.25%. The firm had revenue of $227.30 million for the quarter, compared to analysts’ expectations of $224.90 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. Newpark Resources’s revenue for the quarter was up 43.2% compared to the same quarter last year. equities research analysts predict that Newpark Resources Inc will post 0.42 EPS for the current fiscal year.
About Newpark Resources
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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