Bank of America Corp DE increased its stake in shares of Newpark Resources Inc (NYSE:NR) by 16.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,034,284 shares of the oil and gas company’s stock after acquiring an additional 148,903 shares during the quarter. Bank of America Corp DE’s holdings in Newpark Resources were worth $7,106,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Menta Capital LLC acquired a new position in Newpark Resources in the fourth quarter valued at $107,000. Principal Financial Group Inc. increased its stake in Newpark Resources by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 751,279 shares of the oil and gas company’s stock valued at $5,161,000 after purchasing an additional 3,961 shares during the period. Federated Investors Inc. PA increased its stake in Newpark Resources by 74.8% in the third quarter. Federated Investors Inc. PA now owns 474,824 shares of the oil and gas company’s stock valued at $4,914,000 after purchasing an additional 203,259 shares during the period. Vanguard Group Inc increased its stake in Newpark Resources by 3.9% in the third quarter. Vanguard Group Inc now owns 8,628,858 shares of the oil and gas company’s stock valued at $89,309,000 after purchasing an additional 322,856 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Newpark Resources by 20.0% in the third quarter. Allianz Asset Management GmbH now owns 345,914 shares of the oil and gas company’s stock valued at $3,580,000 after purchasing an additional 57,623 shares during the period. Hedge funds and other institutional investors own 98.65% of the company’s stock.
A number of research analysts have commented on the stock. SunTrust Banks set a $13.00 price objective on shares of Newpark Resources and gave the company a “buy” rating in a research note on Monday, April 8th. Zacks Investment Research upgraded shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. TheStreet raised shares of Newpark Resources from a “c” rating to a “b” rating in a report on Friday, February 8th. Finally, ValuEngine raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $12.00.
In other news, insider Paul L. Howes sold 106,487 shares of Newpark Resources stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $9.50, for a total value of $1,011,626.50. Following the sale, the insider now owns 621,820 shares of the company’s stock, valued at $5,907,290. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Paul L. Howes sold 200,000 shares of Newpark Resources stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.21, for a total transaction of $1,842,000.00. The disclosure for this sale can be found here. 4.80% of the stock is owned by insiders.
Shares of NYSE:NR opened at $8.79 on Friday. The stock has a market capitalization of $804.55 million, a PE ratio of 21.44 and a beta of 1.70. The company has a current ratio of 3.69, a quick ratio of 2.30 and a debt-to-equity ratio of 0.28. Newpark Resources Inc has a fifty-two week low of $6.39 and a fifty-two week high of $11.65.
Newpark Resources (NYSE:NR) last issued its earnings results on Thursday, February 7th. The oil and gas company reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The business had revenue of $247.70 million for the quarter, compared to the consensus estimate of $242.61 million. Newpark Resources had a net margin of 3.41% and a return on equity of 6.85%. The business’s quarterly revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. On average, equities analysts predict that Newpark Resources Inc will post 0.41 earnings per share for the current fiscal year.
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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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