Ibex Investors LLC acquired a new stake in Newpark Resources Inc (NYSE:NR) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,455 shares of the oil and gas company’s stock, valued at approximately $212,000.
A number of other large investors also recently added to or reduced their stakes in NR. Principal Financial Group Inc. lifted its holdings in shares of Newpark Resources by 5.7% in the first quarter. Principal Financial Group Inc. now owns 717,221 shares of the oil and gas company’s stock worth $5,809,000 after buying an additional 38,879 shares in the last quarter. Wells Fargo & Company MN raised its stake in Newpark Resources by 15.9% in the second quarter. Wells Fargo & Company MN now owns 1,561,381 shares of the oil and gas company’s stock valued at $16,941,000 after purchasing an additional 214,495 shares in the last quarter. Victory Capital Management Inc. raised its stake in Newpark Resources by 1,773.4% in the second quarter. Victory Capital Management Inc. now owns 3,618,405 shares of the oil and gas company’s stock valued at $39,259,000 after purchasing an additional 3,425,260 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Newpark Resources in the second quarter valued at approximately $205,000. Finally, State Board of Administration of Florida Retirement System raised its stake in Newpark Resources by 152.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 210,153 shares of the oil and gas company’s stock valued at $2,280,000 after purchasing an additional 126,901 shares in the last quarter. 98.70% of the stock is currently owned by institutional investors.
Shares of NR opened at $7.17 on Friday. The company has a market capitalization of $671.07 million, a P/E ratio of 71.70 and a beta of 1.61. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.32. Newpark Resources Inc has a 1-year low of $7.04 and a 1-year high of $11.65.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Newpark Resources had a net margin of 1.36% and a return on equity of 5.56%. The business had revenue of $235.33 million for the quarter, compared to the consensus estimate of $237.08 million. On average, analysts anticipate that Newpark Resources Inc will post 0.38 EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday. ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. Finally, TheStreet downgraded shares of Newpark Resources from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $11.00.
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Newpark Resources 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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