Nomura Holdings Inc. raised its stake in shares of Newpark Resources Inc. (NYSE:NR) by 116.8% during the second quarter, Holdings Channel reports. The firm owned 24,700 shares of the company’s stock after buying an additional 13,305 shares during the period. Nomura Holdings Inc.’s holdings in Newpark Resources were worth $140,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio raised its stake in shares of Newpark Resources by 30.7% in the second quarter. Public Employees Retirement System of Ohio now owns 17,891 shares of the company’s stock worth $104,000 after buying an additional 4,203 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Newpark Resources during the second quarter worth about $115,000. BlackRock Inc. raised its stake in shares of Newpark Resources by 293.0% in the second quarter. BlackRock Inc. now owns 23,392 shares of the company’s stock worth $136,000 after buying an additional 17,440 shares in the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of Newpark Resources during the second quarter worth about $152,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Newpark Resources by 86.6% in the second quarter. BNP Paribas Arbitrage SA now owns 27,625 shares of the company’s stock worth $160,000 after buying an additional 12,818 shares in the last quarter. Institutional investors and hedge funds own 98.74% of the company’s stock.
Newpark Resources Inc. (NYSE:NR) opened at 7.36 on Monday. The stock’s 50 day moving average price is $7.07 and its 200 day moving average price is $5.63. The company’s market capitalization is $622.06 million. Newpark Resources Inc. has a 52 week low of $3.35 and a 52 week high of $7.72.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, July 28th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.09. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. The company had revenue of $115.30 million for the quarter, compared to analyst estimates of $106.93 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The firm’s revenue for the quarter was down 29.5% compared to the same quarter last year. Analysts anticipate that Newpark Resources Inc. will post ($0.43) earnings per share for the current year.
NR has been the topic of several recent analyst reports. Loop Capital initiated coverage on Newpark Resources in a research report on Friday. They set a “hold” rating on the stock. Credit Suisse Group AG set a $7.00 price target on Newpark Resources and gave the stock a “buy” rating in a research report on Monday, August 1st. Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Wednesday, July 6th. Capital One Financial Corp. raised Newpark Resources from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $5.00 to $6.00 in a research report on Wednesday, June 15th. Finally, Leerink Swann reaffirmed a “buy” rating and set a $108.00 price target on shares of Newpark Resources in a research report on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $21.18.
Newpark Resources Company Profile
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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