American International Group Inc. cut its position in Newpark Resources Inc (NYSE:NR) by 2.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 67,493 shares of the oil and gas company’s stock after selling 1,896 shares during the quarter. American International Group Inc.’s holdings in Newpark Resources were worth $618,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NR. Arizona State Retirement System boosted its stake in shares of Newpark Resources by 6.5% in the fourth quarter. Arizona State Retirement System now owns 139,843 shares of the oil and gas company’s stock valued at $961,000 after purchasing an additional 8,478 shares during the period. Rhumbline Advisers boosted its stake in Newpark Resources by 20.7% during the 4th quarter. Rhumbline Advisers now owns 272,206 shares of the oil and gas company’s stock valued at $1,870,000 after acquiring an additional 46,773 shares during the last quarter. SG Americas Securities LLC boosted its stake in Newpark Resources by 787.5% during the 4th quarter. SG Americas Securities LLC now owns 202,432 shares of the oil and gas company’s stock valued at $1,391,000 after acquiring an additional 179,624 shares during the last quarter. Victory Capital Management Inc. boosted its stake 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 valued at $43,229,000 after acquiring an additional 634,766 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new position in Newpark Resources during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 98.65% of the company’s stock.

NYSE NR opened at $6.90 on Wednesday. Newpark Resources Inc has a 12 month low of $6.39 and a 12 month high of $11.65. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.81 and a current ratio of 4.45. The firm has a market cap of $642.59 million, a price-to-earnings ratio of 16.83 and a beta of 1.50.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). Newpark Resources had a net margin of 2.83% and a return on equity of 6.29%. The company had revenue of $211.50 million for the quarter, compared to the consensus estimate of $224.17 million. During the same quarter last year, the company earned $0.08 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, research analysts expect that Newpark Resources Inc will post 0.32 EPS for the current fiscal year.

In other news, insider Paul L. Howes sold 200,000 shares of the firm’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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Paul L. Howes sold 106,487 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the completion of the transaction, the insider now owns 621,820 shares in the company, valued at $5,907,290. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

A number of research analysts have commented on the stock. SunTrust Banks set a $13.00 price objective on shares of Newpark Resources and gave the company a “buy” rating in a research note on Monday, April 8th. TheStreet downgraded shares of Newpark Resources from a “b” rating to a “c+” rating in a research note on Friday, April 26th. Finally, ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $12.00.

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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.

Further Reading: P/E Growth (PEG)

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

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