State Street Corp Acquires 7,278 Shares of Newpark Resources, Inc. (NR)
State Street Corp lifted its holdings in Newpark Resources, Inc. (NYSE:NR) by 0.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,430,413 shares of the oil and gas company’s stock after purchasing an additional 7,278 shares during the quarter. State Street Corp owned 2.84% of Newpark Resources worth $17,865,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its stake in Newpark Resources by 8.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 21,000 shares of the oil and gas company’s stock worth $154,000 after buying an additional 1,610 shares during the period. Louisiana State Employees Retirement System boosted its stake in Newpark Resources by 4.9% during the second quarter. Louisiana State Employees Retirement System now owns 36,200 shares of the oil and gas company’s stock worth $266,000 after buying an additional 1,700 shares during the period. Brandywine Global Investment Management LLC boosted its stake in Newpark Resources by 0.8% during the second quarter. Brandywine Global Investment Management LLC now owns 238,790 shares of the oil and gas company’s stock worth $1,756,000 after buying an additional 1,830 shares during the period. New York State Common Retirement Fund boosted its stake in Newpark Resources by 2.5% during the second quarter. New York State Common Retirement Fund now owns 78,600 shares of the oil and gas company’s stock worth $578,000 after buying an additional 1,899 shares during the period. Finally, Arizona State Retirement System boosted its stake in Newpark Resources by 5.0% during the second quarter. Arizona State Retirement System now owns 46,371 shares of the oil and gas company’s stock worth $341,000 after buying an additional 2,200 shares during the period.
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NR has been the subject of several recent analyst reports. SunTrust Banks, Inc. raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Thursday, November 2nd. Zacks Investment Research raised 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 note on Tuesday, October 24th. Cowen and Company set a $9.00 price objective on shares of Newpark Resources and gave the stock a “hold” rating in a research note on Friday, October 6th. Finally, BidaskClub lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $9.80.
In other news, Director David C. Anderson sold 17,000 shares of the business’s stock in a transaction on 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 sale, the director now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is currently owned by insiders.
Shares of Newpark Resources, Inc. (NYSE:NR) opened at $8.95 on Monday. Newpark Resources, Inc. has a one year low of $6.25 and a one year high of $10.20. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27.
Newpark Resources (NYSE:NR) last issued its earnings results on Monday, October 30th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The company had revenue of $201.70 million for the quarter, compared to analysts’ expectations of $192.57 million. Newpark Resources had a net margin of 0.48% and a negative return on equity of 0.29%. The firm’s revenue for the quarter was up 92.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.16) earnings per share. equities analysts forecast that Newpark Resources, Inc. will post 0.06 earnings per share for the current fiscal year.
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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