Newpark Resources, Inc. (NR) Stake Lowered by Russell Investments Group Ltd.
Russell Investments Group Ltd. lowered its holdings in Newpark Resources, Inc. (NYSE:NR) by 36.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 404,567 shares of the oil and gas company’s stock after selling 227,094 shares during the period. Russell Investments Group Ltd. owned 0.47% of Newpark Resources worth $4,045,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Louisiana State Employees Retirement System grew its position in Newpark Resources by 4.9% during the second quarter. Louisiana State Employees Retirement System now owns 36,200 shares of the oil and gas company’s stock valued at $266,000 after acquiring an additional 1,700 shares during the period. Strs Ohio grew its position in Newpark Resources by 6.1% during the second quarter. Strs Ohio now owns 101,100 shares of the oil and gas company’s stock valued at $743,000 after acquiring an additional 5,800 shares during the period. Municipal Employees Retirement System of Michigan grew its position in Newpark Resources by 8.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,000 shares of the oil and gas company’s stock valued at $154,000 after acquiring an additional 1,610 shares during the period. Great West Life Assurance Co. Can grew its position in Newpark Resources by 14.7% during the second quarter. Great West Life Assurance Co. Can now owns 128,447 shares of the oil and gas company’s stock valued at $944,000 after acquiring an additional 16,500 shares during the period. Finally, Texas Permanent School Fund grew its position in Newpark Resources by 5.7% during the second quarter. Texas Permanent School Fund now owns 64,868 shares of the oil and gas company’s stock valued at $477,000 after acquiring an additional 3,510 shares during the period.
A number of research firms have issued reports on NR. Zacks Investment Research downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Saturday, November 11th. SunTrust Banks raised Newpark Resources from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. Finally, Cowen set a $9.00 price target on Newpark Resources and gave the company a “hold” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Newpark Resources has a consensus rating of “Hold” and a consensus price target of $10.25.
In other Newpark Resources news, Director G Stephen Finley sold 11,300 shares of the business’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $8.79, for a total transaction of $99,327.00. Following the transaction, the director now owns 192,658 shares in the company, valued at $1,693,463.82. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David C. Anderson sold 17,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $8.91, for a total value of $151,470.00. Following the transaction, the director now owns 170,841 shares in the company, valued at approximately $1,522,193.31. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,423 shares of company stock worth $360,346. 4.90% of the stock is currently owned by insiders.
Shares of Newpark Resources, Inc. (NYSE NR) traded down $0.05 on Friday, hitting $8.45. The company’s stock had a trading volume of 462,900 shares, compared to its average volume of 675,844. Newpark Resources, Inc. has a 12 month low of $6.40 and a 12 month high of $10.20. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.96 and a current ratio of 2.71.
Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Monday, October 30th. The oil and gas company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The company had revenue of $201.70 million for the quarter, compared to analyst estimates of $192.57 million. Newpark Resources had a negative return on equity of 0.29% and a net margin of 0.48%. The company’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.16) EPS. equities research analysts predict that Newpark Resources, Inc. will post 0.06 earnings per share for the current fiscal year.
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Newpark Resources Company Profile
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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