Vanguard Group Inc. Buys 146,060 Shares of Newpark Resources Inc (NYSE:NR)

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Vanguard Group Inc. boosted its stake in shares of Newpark Resources Inc (NYSE:NR) by 1.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,254,746 shares of the oil and gas company’s stock after purchasing an additional 146,060 shares during the quarter. Vanguard Group Inc. owned about 10.28% of Newpark Resources worth $68,671,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Newpark Resources by 1.3% in the second quarter. BlackRock Inc. now owns 13,930,043 shares of the oil and gas company’s stock valued at $103,362,000 after acquiring an additional 183,794 shares during the period. Clearbridge Investments LLC boosted its position in shares of Newpark Resources by 9.5% in the first quarter. Clearbridge Investments LLC now owns 4,371,575 shares of the oil and gas company’s stock valued at $40,044,000 after acquiring an additional 379,267 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Newpark Resources by 2.9% in the second quarter. Bank of New York Mellon Corp now owns 3,559,016 shares of the oil and gas company’s stock valued at $26,408,000 after acquiring an additional 99,501 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Newpark Resources by 1.7% in the second quarter. Rockefeller Capital Management L.P. now owns 1,668,105 shares of the oil and gas company’s stock valued at $12,378,000 after acquiring an additional 27,441 shares during the period. Finally, Monarch Partners Asset Management LLC boosted its position in shares of Newpark Resources by 35.2% in the second quarter. Monarch Partners Asset Management LLC now owns 991,733 shares of the oil and gas company’s stock valued at $7,359,000 after acquiring an additional 258,335 shares during the period. 99.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NR opened at $7.55 on Friday. The business has a fifty day simple moving average of $7.20 and a 200 day simple moving average of $7.44. The company has a current ratio of 3.57, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $656.55 million, a price-to-earnings ratio of 24.30 and a beta of 1.56. Newpark Resources Inc has a one year low of $6.06 and a one year high of $10.14.

Newpark Resources (NYSE:NR) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The firm had revenue of $216.41 million during the quarter, compared to analyst estimates of $216.63 million. Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The business’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.12 earnings per share. On average, research analysts anticipate that Newpark Resources Inc will post 0.27 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the company. ValuEngine raised Newpark Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Raymond James set a $12.00 price objective on Newpark Resources and gave the company a “buy” rating in a research report on Wednesday, July 3rd. TheStreet raised Newpark Resources from a “c+” rating to a “b-” rating in a research report on Tuesday, October 1st. Finally, Zacks Investment Research raised Newpark Resources from a “hold” rating to a “buy” rating and set a $8.50 price objective for the company in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Newpark Resources presently has a consensus rating of “Buy” and an average target price of $11.17.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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