Cornercap Investment Counsel Inc. Cuts Stock Holdings in Newpark Resources, Inc. (NYSE:NR)

Cornercap Investment Counsel Inc. lowered its position in Newpark Resources, Inc. (NYSE:NR) by 54.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,325 shares of the oil and gas company’s stock after selling 44,537 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Newpark Resources were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American Century Companies Inc. boosted its position in Newpark Resources by 19.9% in the second quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after purchasing an additional 313,451 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Newpark Resources by 2.5% in the 2nd quarter. Renaissance Technologies LLC now owns 653,000 shares of the oil and gas company’s stock worth $5,426,000 after buying an additional 15,859 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Newpark Resources by 12.3% in the 2nd quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company’s stock worth $5,401,000 after purchasing an additional 71,073 shares during the period. Ancora Advisors LLC lifted its stake in Newpark Resources by 182.5% in the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock valued at $4,678,000 after purchasing an additional 418,570 shares during the last quarter. Finally, Roubaix Capital LLC raised its stake in shares of Newpark Resources by 6.3% in the third quarter. Roubaix Capital LLC now owns 617,079 shares of the oil and gas company’s stock valued at $4,276,000 after buying an additional 36,802 shares during the period. 80.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NR. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources presently has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Up 2.3 %

Shares of NR opened at $7.15 on Tuesday. Newpark Resources, Inc. has a 1 year low of $5.61 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The stock has a 50 day simple moving average of $7.07 and a two-hundred day simple moving average of $7.60. The firm has a market cap of $618.48 million, a P/E ratio of -3.82 and a beta of 2.87.

Newpark Resources Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.