Bank of Montreal Can Has $1.54 Million Position in Newpark Resources, Inc. (NR)
Bank of Montreal Can reduced its position in shares of Newpark Resources, Inc. (NYSE:NR) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 208,907 shares of the oil and gas company’s stock after selling 10,240 shares during the period. Bank of Montreal Can owned about 0.24% of Newpark Resources worth $1,536,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. increased 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 in the last quarter. Vanguard Group Inc. boosted its stake in Newpark Resources by 3.3% in the first quarter. Vanguard Group Inc. now owns 7,397,975 shares of the oil and gas company’s stock worth $59,925,000 after buying an additional 239,371 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Newpark Resources by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 7,120,090 shares of the oil and gas company’s stock worth $57,672,000 after buying an additional 77,639 shares during the last quarter. Royce & Associates LP boosted its stake in Newpark Resources by 2.5% in the first quarter. Royce & Associates LP now owns 2,996,561 shares of the oil and gas company’s stock worth $24,272,000 after buying an additional 72,831 shares during the last quarter. Finally, State Street Corp boosted its stake in Newpark Resources by 13.0% in the first quarter. State Street Corp now owns 2,423,135 shares of the oil and gas company’s stock worth $19,626,000 after buying an additional 279,343 shares during the last quarter.
Newpark Resources, Inc. (NR) traded down 3.23% during trading on Wednesday, reaching $7.50. 530,988 shares of the company traded hands. The firm’s market capitalization is $642.06 million. The firm’s 50 day moving average price is $7.66 and its 200 day moving average price is $7.63. Newpark Resources, Inc. has a 12-month low of $5.80 and a 12-month high of $8.75.
Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $183 million for the quarter, compared to analyst estimates of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The company’s revenue was up 58.7% on a year-over-year basis. During the same quarter last year, the firm earned ($0.06) EPS. Equities research analysts expect that Newpark Resources, Inc. will post $0.08 earnings per share for the current year.
NR has been the topic of a number of research reports. Loop Capital reaffirmed a “buy” rating on shares of Newpark Resources in a research note on Monday, July 3rd. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research note on Thursday, May 4th. Finally, BidaskClub cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. 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. The stock presently has a consensus rating of “Hold” and an average price target of $25.63.
In other news, VP Matthew Lanigan sold 40,771 shares of Newpark Resources stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total transaction of $344,922.66. Following the sale, the vice president now owns 50,000 shares of the company’s stock, valued at approximately $423,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David C. Anderson sold 15,124 shares of Newpark Resources stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $7.35, for a total transaction of $111,161.40. Following the sale, the director now directly 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 three months, insiders sold 90,267 shares of company stock worth $732,435. Insiders own 4.70% of the company’s stock.
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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