Russell Investments Group Ltd. acquired a new stake in Newpark Resources Inc (NYSE:NR) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 755,830 shares of the oil and gas company’s stock, valued at approximately $5,605,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Laurion Capital Management LP bought a new stake in Newpark Resources during the 1st quarter worth $105,000. Magnus Financial Group LLC bought a new stake in Newpark Resources during the 2nd quarter worth $106,000. Campbell & CO Investment Adviser LLC bought a new stake in Newpark Resources during the 1st quarter worth $130,000. BNP Paribas Arbitrage SA grew its position in Newpark Resources by 264.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,551 shares of the oil and gas company’s stock worth $188,000 after acquiring an additional 14,919 shares during the last quarter. Finally, Everence Capital Management Inc. grew its position in Newpark Resources by 58.8% during the 1st quarter. Everence Capital Management Inc. now owns 26,460 shares of the oil and gas company’s stock worth $242,000 after acquiring an additional 9,800 shares during the last quarter. 99.59% of the stock is owned by hedge funds and other institutional investors.
NR has been the topic of a number of analyst reports. ValuEngine lowered Newpark Resources from a “hold” rating to a “sell” rating in a research report on Wednesday, September 4th. Zacks Investment Research lowered Newpark Resources from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Raymond James set a $12.00 price target on Newpark Resources and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Newpark Resources (NYSE:NR) last released its quarterly 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). Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The company had revenue of $216.41 million during the quarter, compared to the consensus estimate of $216.63 million. During the same quarter last year, the firm posted $0.12 EPS. The company’s quarterly revenue was down 8.4% on a year-over-year basis. As a group, equities analysts predict that Newpark Resources Inc will post 0.26 earnings per share for the current year.
About Newpark Resources
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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