California Public Employees Retirement System Boosts Position in Newpark Resources Inc (NYSE:NR)

California Public Employees Retirement System boosted its stake in Newpark Resources Inc (NYSE:NR) by 2.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 162,428 shares of the oil and gas company’s stock after acquiring an additional 4,279 shares during the quarter. California Public Employees Retirement System’s holdings in Newpark Resources were worth $1,488,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of NR. Norges Bank bought a new stake in Newpark Resources in the 4th quarter valued at $7,143,000. Victory Capital Management Inc. lifted its position in Newpark Resources by 11.2% during the 4th quarter. Victory Capital Management Inc. now owns 6,292,409 shares of the oil and gas company’s stock worth $43,229,000 after buying an additional 634,766 shares in the last quarter. Hillcrest Asset Management LLC bought a new stake in Newpark Resources during the 4th quarter worth about $4,068,000. Bank of New York Mellon Corp lifted its position in Newpark Resources by 8.8% during the 4th quarter. Bank of New York Mellon Corp now owns 3,366,755 shares of the oil and gas company’s stock worth $23,130,000 after buying an additional 270,920 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Newpark Resources by 1.9% during the 4th quarter. BlackRock Inc. now owns 13,844,202 shares of the oil and gas company’s stock worth $95,110,000 after buying an additional 263,764 shares in the last quarter. 98.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NR opened at $6.37 on Friday. The company has a current ratio of 4.45, a quick ratio of 2.81 and a debt-to-equity ratio of 0.32. Newpark Resources Inc has a one year low of $6.34 and a one year high of $11.65. The stock has a market cap of $576.52 million, a price-to-earnings ratio of 15.54 and a beta of 1.51.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.02). Newpark Resources had a return on equity of 6.29% and a net margin of 2.83%. The business had revenue of $211.50 million for the quarter, compared to the consensus estimate of $224.17 million. During the same period last year, the firm earned $0.08 earnings per share. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts forecast that Newpark Resources Inc will post 0.31 EPS for the current fiscal year.

NR has been the topic of several analyst reports. SunTrust Banks set a $13.00 price target on shares of Newpark Resources and gave the stock a “buy” rating in a research report on Monday, April 8th. TheStreet cut shares of Newpark Resources from a “b” rating to a “c+” rating in a research report on Friday, April 26th. Finally, ValuEngine cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Newpark Resources has an average rating of “Hold” and an average price target of $12.00.

In other news, insider Paul L. Howes sold 200,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.21, for a total value of $1,842,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $1,011,626.50. Following the completion of the sale, the insider now directly owns 621,820 shares in the company, valued at $5,907,290. The disclosure for this sale can be found here. Insiders own 5.20% of the company’s stock.

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Newpark Resources Company 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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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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