Victory Capital Management Inc. Sells 9,003 Shares of Newpark Resources, Inc. (NR)
Victory Capital Management Inc. trimmed its holdings in Newpark Resources, Inc. (NYSE:NR) by 5.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 159,954 shares of the oil and gas company’s stock after selling 9,003 shares during the period. Victory Capital Management Inc. owned 0.19% of Newpark Resources worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also modified their holdings of NR. BlackRock Inc. raised its position in shares of Newpark Resources by 60,897.4% in the first quarter. BlackRock Inc. now owns 12,637,450 shares of the oil and gas company’s stock valued at $102,364,000 after buying an additional 12,616,732 shares during the last quarter. Daruma Capital Management LLC raised its position in shares of Newpark Resources by 221.1% in the second quarter. Daruma Capital Management LLC now owns 5,830,179 shares of the oil and gas company’s stock valued at $42,852,000 after buying an additional 4,014,692 shares during the last quarter. Bank of New York Mellon Corp increased its position in Newpark Resources by 27.3% during the second quarter. Bank of New York Mellon Corp now owns 3,330,770 shares of the oil and gas company’s stock worth $24,481,000 after purchasing an additional 715,250 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Newpark Resources during the second quarter worth about $5,013,000. Finally, Vanguard Group Inc. increased its position in Newpark Resources by 5.3% during the second quarter. Vanguard Group Inc. now owns 7,791,303 shares of the oil and gas company’s stock worth $57,266,000 after purchasing an additional 393,328 shares during the last quarter.
In other Newpark Resources news, Director David C. Anderson sold 17,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $8.91, for a total transaction of $151,470.00. Following the completion of the transaction, the director now owns 170,841 shares of the company’s stock, valued at $1,522,193.31. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.90% of the company’s stock.
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Shares of Newpark Resources, Inc. (NYSE NR) opened at $8.85 on Wednesday. Newpark Resources, Inc. has a 12-month low of $6.25 and a 12-month high of $10.20. The company has a quick ratio of 1.96, a current ratio of 2.71 and a debt-to-equity ratio of 0.27.
Newpark Resources (NYSE:NR) last released its quarterly earnings data on Monday, October 30th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The firm 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%. Newpark Resources’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share. equities research analysts expect that Newpark Resources, Inc. will post 0.06 earnings per share for the current fiscal year.
NR has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Tuesday, October 24th. BidaskClub cut shares of Newpark Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Cowen and Company set a $9.00 price objective on shares of Newpark Resources and gave the stock a “hold” rating in a research report on Friday, October 6th. Finally, SunTrust Banks, Inc. upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. Newpark Resources presently has a consensus rating of “Hold” and an average target price of $9.80.
Newpark Resources 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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