Algert Global LLC raised its holdings in Newpark Resources Inc (NYSE:NR) by 47.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 161,828 shares of the oil and gas company’s stock after acquiring an additional 52,296 shares during the quarter. Algert Global LLC owned 0.18% of Newpark Resources worth $1,675,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of NR. Trexquant Investment LP acquired a new stake in Newpark Resources in the 3rd quarter valued at about $154,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Newpark Resources in the 2nd quarter valued at about $173,000. Pillar Pacific Capital Management LLC acquired a new stake in Newpark Resources in the 2nd quarter valued at about $195,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Newpark Resources in the 2nd quarter valued at about $205,000. Finally, Ibex Investors LLC acquired a new stake in Newpark Resources in the 3rd quarter valued at about $212,000. 98.70% of the stock is owned by institutional investors.
NR has been the topic of several recent analyst reports. Zacks Investment Research downgraded Newpark Resources from a “hold” rating to a “sell” rating in a report on Friday. ValuEngine downgraded Newpark Resources from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Finally, TheStreet downgraded Newpark Resources from a “b-” rating to a “c+” rating in a report on Monday, October 29th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $11.00.
NYSE NR opened at $7.00 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.31 and a current ratio of 3.70. The stock has a market cap of $671.07 million, a price-to-earnings ratio of 70.00 and a beta of 1.61. Newpark Resources Inc has a 1 year low of $6.99 and a 1 year high of $11.65.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, October 25th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). The company had revenue of $235.33 million for the quarter, compared to analyst estimates of $237.08 million. Newpark Resources had a return on equity of 5.56% and a net margin of 1.36%. On average, sell-side analysts expect that Newpark Resources Inc will post 0.38 earnings per share for the current year.
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Newpark Resources Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.
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