Schwab Charles Investment Management Inc. Has $6.03 Million Holdings in Newpark Resources, Inc. (NR)
Schwab Charles Investment Management Inc. decreased its position in Newpark Resources, Inc. (NYSE:NR) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 819,593 shares of the oil and gas company’s stock after selling 21,505 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.96% of Newpark Resources worth $6,025,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in NR. Great West Life Assurance Co. Can boosted its stake in shares of Newpark Resources by 4.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 111,947 shares of the oil and gas company’s stock valued at $901,000 after purchasing an additional 4,844 shares in the last quarter. Comerica Bank boosted its stake in shares of Newpark Resources by 4.0% during the 1st quarter. Comerica Bank now owns 93,935 shares of the oil and gas company’s stock valued at $742,000 after purchasing an additional 3,577 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Newpark Resources during the 1st quarter valued at about $282,000. Ameriprise Financial Inc. boosted its stake in shares of Newpark Resources by 3.9% during the 1st quarter. Ameriprise Financial Inc. now owns 550,809 shares of the oil and gas company’s stock valued at $4,462,000 after purchasing an additional 20,925 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Newpark Resources by 35.0% during the 1st quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock valued at $148,000 after purchasing an additional 4,728 shares in the last quarter.
In related news, VP Matthew Lanigan sold 40,771 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total value of $344,922.66. Following the transaction, the vice president now owns 50,000 shares of the company’s stock, valued at approximately $423,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.90% of the company’s stock.
A number of brokerages have recently weighed in on NR. Cowen and Company set a $9.00 target price on shares of Newpark Resources and gave the company a “hold” rating in a research note on Friday, October 6th. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub raised shares of Newpark Resources from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Loop Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.50.
Shares of Newpark Resources, Inc. (NYSE:NR) opened at 9.75 on Wednesday. The company’s market cap is $834.68 million. Newpark Resources, Inc. has a 52 week low of $5.80 and a 52 week high of $10.20. The stock’s 50 day moving average is $9.00 and its 200-day moving average is $8.00.
Newpark Resources (NYSE:NR) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $183.00 million for the quarter, compared to the consensus estimate of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The firm’s revenue was up 58.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.06) EPS. On average, equities analysts anticipate that Newpark Resources, Inc. will post $0.10 earnings per share for the current 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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