Chartwell Investment Partners LLC lowered its stake in shares of Newpark Resources Inc (NYSE:NR) by 2.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,452 shares of the oil and gas company’s stock after selling 2,175 shares during the quarter. Chartwell Investment Partners LLC owned about 0.11% of Newpark Resources worth $690,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of NR. Citadel Advisors LLC boosted its holdings in Newpark Resources by 108.9% in the 3rd quarter. Citadel Advisors LLC now owns 259,719 shares of the oil and gas company’s stock worth $2,688,000 after acquiring an additional 135,374 shares during the period. Allianz Asset Management GmbH boosted its holdings in Newpark Resources by 20.0% in the 3rd quarter. Allianz Asset Management GmbH now owns 345,914 shares of the oil and gas company’s stock worth $3,580,000 after acquiring an additional 57,623 shares during the period. Federated Investors Inc. PA boosted its holdings in Newpark Resources by 74.8% in the 3rd quarter. Federated Investors Inc. PA now owns 474,824 shares of the oil and gas company’s stock worth $4,914,000 after acquiring an additional 203,259 shares during the period. Vanguard Group Inc boosted its holdings in Newpark Resources by 3.9% in the 3rd quarter. Vanguard Group Inc now owns 8,628,858 shares of the oil and gas company’s stock worth $89,309,000 after acquiring an additional 322,856 shares during the period. Finally, New Amsterdam Partners LLC NY boosted its holdings in Newpark Resources by 1,198.3% in the 3rd quarter. New Amsterdam Partners LLC NY now owns 182,958 shares of the oil and gas company’s stock worth $1,894,000 after acquiring an additional 168,866 shares during the period. 99.15% of the stock is owned by institutional investors.
A number of research firms have weighed in on NR. Zacks Investment Research upgraded Newpark Resources from a “sell” rating to a “hold” rating in a report on Saturday. ValuEngine upgraded Newpark Resources from a “sell” rating to a “hold” rating in a report on Friday, January 4th. Finally, TheStreet cut 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 hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.50.
Newpark Resources (NYSE:NR) last released its earnings results on Thursday, February 7th. The oil and gas company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.03. The company had revenue of $247.70 million during the quarter, compared to analysts’ expectations of $242.61 million. Newpark Resources had a return on equity of 6.90% and a net margin of 3.41%. The business’s revenue was up 21.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. As a group, analysts forecast that Newpark Resources Inc will post 0.47 earnings per share for the current year.
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About Newpark Resources
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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