New York State Common Retirement Fund cut its position in Newpark Resources Inc (NYSE:NR) by 13.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,100 shares of the oil and gas company’s stock after selling 13,600 shares during the period. New York State Common Retirement Fund owned 0.09% of Newpark Resources worth $578,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in Newpark Resources by 5.2% in the third quarter. BlackRock Inc. now owns 13,580,438 shares of the oil and gas company’s stock worth $140,558,000 after acquiring an additional 676,028 shares in the last quarter. Vanguard Group Inc. grew its position in Newpark Resources by 3.9% in the third quarter. Vanguard Group Inc. now owns 8,628,858 shares of the oil and gas company’s stock worth $89,309,000 after acquiring an additional 322,856 shares in the last quarter. Vanguard Group Inc lifted its stake in Newpark Resources by 3.9% in the third quarter. Vanguard Group Inc now owns 8,628,858 shares of the oil and gas company’s stock worth $89,309,000 after purchasing an additional 322,856 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Newpark Resources by 1.4% in the third quarter. Dimensional Fund Advisors LP now owns 7,620,935 shares of the oil and gas company’s stock worth $78,876,000 after purchasing an additional 107,424 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in Newpark Resources by 11.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,292,409 shares of the oil and gas company’s stock worth $43,229,000 after purchasing an additional 634,766 shares during the last quarter. Institutional investors own 98.65% of the company’s stock.
Several research firms have weighed in on NR. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. TheStreet raised shares of Newpark Resources from a “c” rating to a “b” rating in a research note on Friday, February 8th. SunTrust Banks set a $13.00 price target on shares of Newpark Resources and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, ValuEngine raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Friday, January 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Newpark Resources presently has a consensus rating of “Hold” and a consensus target price of $12.00.
Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.02). Newpark Resources had a net margin of 3.41% and a return on equity of 6.85%. The company had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $224.17 million. During the same quarter in the prior year, the firm earned $0.08 EPS. Newpark Resources’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities analysts anticipate that Newpark Resources Inc will post 0.38 earnings per share for the current year.
In other Newpark Resources news, insider Paul L. Howes sold 106,487 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $9.50, for a total value of $1,011,626.50. Following the sale, the insider now owns 621,820 shares in the company, valued at $5,907,290. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Paul L. Howes sold 200,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was 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 owned by insiders.
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About Newpark Resources
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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