Pinebridge Investments L.P. Boosts Stake in Newpark Resources Inc (NYSE:NR)

Pinebridge Investments L.P. grew its position in shares of Newpark Resources Inc (NYSE:NR) by 23.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 131,504 shares of the oil and gas company’s stock after acquiring an additional 25,158 shares during the period. Pinebridge Investments L.P. owned about 0.15% of Newpark Resources worth $976,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Newpark Resources by 6.9% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock worth $30,143,000 after acquiring an additional 212,325 shares during the period. Foundry Partners LLC grew its stake in shares of Newpark Resources by 12.9% in the 2nd quarter. Foundry Partners LLC now owns 696,390 shares of the oil and gas company’s stock worth $5,167,000 after buying an additional 79,600 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Newpark Resources by 1.7% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 1,668,105 shares of the oil and gas company’s stock worth $12,378,000 after buying an additional 27,441 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Newpark Resources by 461.6% in the 2nd quarter. SG Americas Securities LLC now owns 168,060 shares of the oil and gas company’s stock worth $1,247,000 after buying an additional 138,137 shares during the last quarter. Finally, Aperio Group LLC grew its stake in shares of Newpark Resources by 27.0% in the 2nd quarter. Aperio Group LLC now owns 61,145 shares of the oil and gas company’s stock worth $454,000 after buying an additional 13,012 shares during the last quarter.

Several analysts recently weighed in on NR shares. Raymond James set a $12.00 price target on Newpark Resources and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Zacks Investment Research cut Newpark Resources from a “hold” rating to a “sell” rating in a research report on Thursday, September 12th. Finally, ValuEngine cut Newpark Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $12.00.

NR stock traded up $0.06 during midday trading on Friday, hitting $7.79. The company’s stock had a trading volume of 8,158 shares, compared to its average volume of 502,125. The company has a market cap of $715.99 million, a PE ratio of 19.02 and a beta of 1.53. Newpark Resources Inc has a 12 month low of $6.06 and a 12 month high of $10.90. The company has a current ratio of 3.57, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The firm’s 50-day moving average is $6.96 and its 200-day moving average is $7.54.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $216.41 million during the quarter, compared to the consensus estimate of $216.63 million. Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The business’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the company posted $0.12 earnings per share. Analysts expect that Newpark Resources Inc will post 0.27 earnings per share for the current year.

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

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