Gregg Piontek Sells 34,372 Shares of Newpark Resources Inc (NR) Stock
Newpark Resources Inc (NYSE:NR) VP Gregg Piontek sold 34,372 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $8.04, for a total value of $276,350.88. Following the completion of the transaction, the vice president now directly owns 114,308 shares in the company, valued at $919,036.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Newpark Resources Inc (NYSE:NR) traded down 1.24% during mid-day trading on Tuesday, reaching $7.95. The company had a trading volume of 47,141 shares. The stock has a 50 day moving average of $7.87 and a 200-day moving average of $7.66. Newpark Resources Inc has a 52 week low of $4.27 and a 52 week high of $8.75. The company’s market capitalization is $706.33 million.
Newpark Resources (NYSE:NR) last released its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.04) by $0.03. Newpark Resources had a negative return on equity of 6.78% and a negative net margin of 8.63%. The business had revenue of $158.70 million during the quarter, compared to analyst estimates of $150.48 million. During the same period last year, the business posted ($0.16) earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. On average, analysts expect that Newpark Resources Inc will post $0.06 earnings per share for the current fiscal year.
NR has been the topic of several research reports. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a research report on Thursday, May 4th. TheStreet raised Newpark Resources from a “d” rating to a “c-” rating in a research note on Thursday, February 9th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $22.82.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GW&K Investment Management LLC raised its position in Newpark Resources by 16.5% in the first quarter. GW&K Investment Management LLC now owns 13,240 shares of the oil and gas company’s stock worth $107,000 after buying an additional 1,880 shares during the period. Driehaus Capital Management LLC purchased a new position in Newpark Resources during the first quarter worth $114,000. Two Sigma Securities LLC purchased a new position in Newpark Resources during the third quarter worth $115,000. Everence Capital Management Inc. purchased a new position in Newpark Resources during the first quarter worth $135,000. Finally, Virginia Retirement Systems ET AL boosted its position in Newpark Resources by 35.0% in the first quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock worth $148,000 after buying an additional 4,728 shares during the last quarter. Institutional investors and hedge funds own 95.89% 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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