Chartwell Investment Partners LLC lessened its position in Newpark Resources Inc (NYSE:NR) by 1.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 98,815 shares of the oil and gas company’s stock after selling 1,637 shares during the period. Chartwell Investment Partners LLC’s holdings in Newpark Resources were worth $905,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of NR. Advisor Group Inc. lifted its stake in shares of Newpark Resources by 233.0% in the fourth quarter. Advisor Group Inc. now owns 4,182 shares of the oil and gas company’s stock worth $29,000 after buying an additional 2,926 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in Newpark Resources during the fourth quarter valued at approximately $35,000. Menta Capital LLC bought a new position in Newpark Resources during the fourth quarter valued at approximately $107,000. Metropolitan Life Insurance Co. NY lifted its position in Newpark Resources by 327.1% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 31,487 shares of the oil and gas company’s stock valued at $216,000 after purchasing an additional 24,114 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Newpark Resources by 187.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 38,556 shares of the oil and gas company’s stock valued at $265,000 after purchasing an additional 25,129 shares during the period. Hedge funds and other institutional investors own 98.65% of the company’s stock.
In other Newpark Resources news, insider Paul L. Howes sold 106,487 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the completion of the sale, the insider now directly owns 621,820 shares of the company’s stock, valued at $5,907,290. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Paul L. Howes sold 200,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $9.21, for a total transaction of $1,842,000.00. The disclosure for this sale can be found here. 4.80% of the stock is currently owned by corporate insiders.
A number of research analysts recently weighed in on NR shares. TheStreet upgraded shares of Newpark Resources from a “c” rating to a “b” rating in a research report on Friday, February 8th. ValuEngine upgraded shares of Newpark Resources from a “sell” rating to a “hold” rating in a research report on Friday, January 4th. SunTrust Banks set a $13.00 price objective on shares of Newpark Resources and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Zacks Investment Research upgraded shares of Newpark Resources from a “sell” rating to a “hold” rating in a research report on Saturday, February 9th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $12.00.
Shares of Newpark Resources stock opened at $9.08 on Wednesday. The company has a market cap of $820.80 million, a P/E ratio of 22.15 and a beta of 1.70. Newpark Resources Inc has a twelve month low of $6.39 and a twelve month high of $11.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.30 and a current ratio of 3.69.
Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Thursday, February 7th. The oil and gas company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.03. Newpark Resources had a net margin of 3.41% and a return on equity of 6.85%. The company had revenue of $247.70 million for the quarter, compared to the consensus estimate of $242.61 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue for the quarter was up 21.2% compared to the same quarter last year. On average, research analysts anticipate that Newpark Resources Inc will post 0.41 earnings per share for the current fiscal year.
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Newpark Resources Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.
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