Newpark Resources, Inc. (NR) Position Raised by State Street Corp
State Street Corp raised its position in shares of Newpark Resources, Inc. (NYSE:NR) by 13.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 2,423,135 shares of the oil and gas company’s stock after buying an additional 279,343 shares during the period. State Street Corp’s holdings in Newpark Resources were worth $19,626,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in NR. Everence Capital Management Inc. acquired a new stake in Newpark Resources during the first quarter worth about $135,000. Virginia Retirement Systems ET AL boosted its stake in Newpark Resources by 35.0% in the first quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock worth $148,000 after buying an additional 4,728 shares during the last quarter. Mason Street Advisors LLC boosted its stake in Newpark Resources by 7.1% in the first quarter. Mason Street Advisors LLC now owns 19,817 shares of the oil and gas company’s stock worth $161,000 after buying an additional 1,318 shares during the last quarter. Miles Capital Inc. boosted its stake in Newpark Resources by 0.3% in the first quarter. Miles Capital Inc. now owns 26,540 shares of the oil and gas company’s stock worth $215,000 after buying an additional 71 shares during the last quarter. Finally, Menta Capital LLC acquired a new stake in Newpark Resources during the first quarter worth about $263,000.
Newpark Resources, Inc. (NR) traded down 2.744% during mid-day trading on Tuesday, reaching $7.975. The company had a trading volume of 76,138 shares. The company’s 50-day moving average is $7.63 and its 200-day moving average is $7.63. Newpark Resources, Inc. has a one year low of $5.80 and a one year high of $8.75. The stock’s market capitalization is $682.72 million.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Newpark Resources had a negative return on equity of 2.92% and a negative net margin of 2.20%. The business had revenue of $183 million for the quarter, compared to the consensus estimate of $159.51 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. Newpark Resources’s revenue for the quarter was up 58.7% on a year-over-year basis. Equities research analysts anticipate that Newpark Resources, Inc. will post $0.08 earnings per share for the current year.
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Several research firms recently weighed in on NR. BidaskClub cut Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research raised Newpark Resources from a “sell” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Loop Capital reissued a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $25.63.
In related news, VP Gregg Piontek sold 34,372 shares of the company’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $8.04, for a total value of $276,350.88. Following the transaction, the vice president now owns 114,308 shares in the company, valued at $919,036.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David C. Anderson sold 15,124 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $7.35, for a total value of $111,161.40. Following the completion of the transaction, the director now owns 187,841 shares in the company, valued at approximately $1,380,631.35. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,267 shares of company stock worth $732,435. 4.70% of the stock is owned by company insiders.
About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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