Newpark Resources, Inc. (NR) Position Cut by Tieton Capital Management LLC
Tieton Capital Management LLC decreased its position in shares of Newpark Resources, Inc. (NYSE:NR) by 10.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 588,780 shares of the oil and gas company’s stock after selling 68,810 shares during the period. Newpark Resources comprises approximately 4.0% of Tieton Capital Management LLC’s holdings, making the stock its 10th biggest holding. Tieton Capital Management LLC owned about 0.69% of Newpark Resources worth $4,328,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC purchased a new stake in Newpark Resources during the 2nd quarter worth $1,041,000. Principal Financial Group Inc. increased its position in shares of Newpark Resources by 5.0% in the 2nd quarter. Principal Financial Group Inc. now owns 692,789 shares of the oil and gas company’s stock worth $5,092,000 after purchasing an additional 32,887 shares during the last quarter. Buckingham Asset Management LLC increased its position in shares of Newpark Resources by 17.1% in the 2nd quarter. Buckingham Asset Management LLC now owns 166,047 shares of the oil and gas company’s stock worth $1,220,000 after purchasing an additional 24,227 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Newpark Resources by 2.8% in the 2nd quarter. Prudential Financial Inc. now owns 147,679 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 4,050 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of Newpark Resources by 5.6% in the 2nd quarter. Royce & Associates LP now owns 3,163,261 shares of the oil and gas company’s stock worth $23,250,000 after purchasing an additional 166,700 shares during the last quarter.
In other Newpark Resources news, VP Matthew Lanigan sold 40,771 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total value of $344,922.66. Following the completion of the sale, the vice president now directly owns 50,000 shares of the company’s stock, valued at approximately $423,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.90% of the stock is owned by corporate insiders.
Newpark Resources, Inc. (NYSE:NR) traded down 0.292% during midday trading on Thursday, hitting $8.525. 100,034 shares of the stock traded hands. The company has a 50-day moving average of $7.85 and a 200-day moving average of $7.63. The stock’s market cap is $729.81 million. Newpark Resources, Inc. has a 1-year low of $5.80 and a 1-year high of $8.75.
Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The firm had revenue of $183 million during the quarter, compared to the consensus estimate of $159.51 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s revenue was up 58.7% on a year-over-year basis. On average, equities analysts expect that Newpark Resources, Inc. will post $0.09 EPS for the current fiscal year.
NR has been the subject of several research analyst reports. BidaskClub downgraded shares of Newpark Resources from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a research report on Friday, July 21st. Finally, Loop Capital reissued a “buy” rating on shares of Newpark Resources in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. Newpark Resources has a consensus rating of “Hold” and an average price target of $9.15.
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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