Public Employees Retirement System of Ohio Cuts Position in Newpark Resources, Inc. (NR)
Public Employees Retirement System of Ohio cut its position in shares of Newpark Resources, Inc. (NYSE:NR) by 4.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 17,683 shares of the oil and gas company’s stock after selling 808 shares during the period. Public Employees Retirement System of Ohio’s holdings in Newpark Resources were worth $143,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Lazard Asset Management LLC raised its position in Newpark Resources by 24.1% in the first quarter. Lazard Asset Management LLC now owns 1,155,350 shares of the oil and gas company’s stock worth $9,358,000 after buying an additional 224,520 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Newpark Resources by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,500 shares of the oil and gas company’s stock worth $279,000 after buying an additional 500 shares in the last quarter. Nationwide Fund Advisors raised its position in Newpark Resources by 265.2% in the first quarter. Nationwide Fund Advisors now owns 264,590 shares of the oil and gas company’s stock worth $2,143,000 after buying an additional 192,147 shares in the last quarter. Virginia Retirement Systems ET AL raised its position 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 in the last quarter. Finally, Thrivent Financial For Lutherans raised its position in Newpark Resources by 5.5% in the first quarter. Thrivent Financial For Lutherans now owns 49,260 shares of the oil and gas company’s stock worth $399,000 after buying an additional 2,580 shares in the last quarter.
Newpark Resources, Inc. (NR) traded down 1.85% on Friday, hitting $7.95. The stock had a trading volume of 524,673 shares. The company’s market cap is $680.58 million. Newpark Resources, Inc. has a 1-year low of $5.80 and a 1-year high of $8.75. The stock has a 50 day moving average price of $7.59 and a 200 day moving average price of $7.64.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.03. The company had revenue of $183 million for the quarter, compared to the consensus estimate of $159.51 million. Newpark Resources had a negative return on equity of 2.92% and a negative net margin of 2.20%. The firm’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.06) EPS. On average, equities research analysts expect that Newpark Resources, Inc. will post $0.08 EPS for the current fiscal year.
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NR has been the topic of a number of recent research reports. Loop Capital restated a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Thursday, May 4th. Finally, BidaskClub lowered Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $25.63.
In other Newpark Resources news, EVP Bruce Campbell Smith sold 10,578 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $8.00, for a total transaction of $84,624.00. Following the sale, the executive vice president now directly owns 226,034 shares in the company, valued at approximately $1,808,272. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David C. Anderson sold 15,124 shares of the stock in a transaction 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 sale, the director now owns 187,841 shares in the company, valued at $1,380,631.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 241,985 shares of company stock worth $1,939,122. Company insiders own 4.70% of the company’s stock.
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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