Mackenzie Financial Corp Takes Position in Newpark Resources, Inc. (NYSE:NR)

Mackenzie Financial Corp bought a new stake in Newpark Resources, Inc. (NYSE:NR) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 15,266 shares of the oil and gas company’s stock, valued at approximately $101,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dorsey Wright & Associates acquired a new position in Newpark Resources during the third quarter worth $32,000. Principal Financial Group Inc. bought a new position in Newpark Resources in the 3rd quarter valued at about $78,000. Legato Capital Management LLC acquired a new position in Newpark Resources during the 4th quarter valued at about $96,000. Kure Advisory LLC bought a new stake in Newpark Resources during the 3rd quarter worth approximately $116,000. Finally, New York State Common Retirement Fund raised its stake in shares of Newpark Resources by 105.4% in the third quarter. New York State Common Retirement Fund now owns 20,070 shares of the oil and gas company’s stock worth $139,000 after purchasing an additional 10,300 shares during the last quarter. 80.81% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on NR shares. Roth Capital reiterated a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Roth Mkm assumed coverage on shares of Newpark Resources in a report on Friday, March 8th. They issued a “buy” rating and a $10.00 target price for the company. StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. TheStreet cut shares of Newpark Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Finally, B. Riley initiated coverage on Newpark Resources in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.00 target price for the company. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $10.75.

Newpark Resources Stock Performance

Shares of NR stock opened at $7.25 on Tuesday. Newpark Resources, Inc. has a 52 week low of $3.40 and a 52 week high of $7.84. The firm’s 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $6.86. The firm has a market cap of $617.27 million, a price-to-earnings ratio of 45.28 and a beta of 2.75. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.59 and a current ratio of 2.62.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a net margin of 1.94% and a return on equity of 6.53%. As a group, equities analysts forecast that Newpark Resources, Inc. will post 0.3 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 (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.