GAMMA Investing LLC Purchases Shares of 7,575 Newpark Resources, Inc. (NYSE:NR)

GAMMA Investing LLC acquired a new position in Newpark Resources, Inc. (NYSE:NR) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 7,575 shares of the oil and gas company’s stock, valued at approximately $49,000.

A number of other large investors have also recently made changes to their positions in NR. Dorsey Wright & Associates bought a new position in Newpark Resources in the 3rd quarter worth $32,000. Principal Financial Group Inc. bought a new position in Newpark Resources in the 3rd quarter worth approximately $78,000. Calamos Advisors LLC bought a new stake in shares of Newpark Resources during the fourth quarter valued at approximately $77,000. Legato Capital Management LLC purchased a new position in shares of Newpark Resources in the fourth quarter worth $96,000. Finally, Mackenzie Financial Corp purchased a new position in Newpark Resources during the fourth quarter valued at $101,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

Newpark Resources Price Performance

Newpark Resources stock opened at $7.02 on Friday. The firm has a market capitalization of $598.10 million, a PE ratio of 43.88 and a beta of 2.78. Newpark Resources, Inc. has a 12-month low of $3.40 and a 12-month high of $7.84. The firm has a 50-day moving average price of $7.13 and a 200-day moving average price of $6.86. The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14.

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

Analysts Set New Price Targets

Several research analysts have commented on NR shares. B. Riley started coverage on shares of Newpark Resources in a report on Tuesday, April 9th. They set a “buy” rating and a $10.00 price objective for the company. Roth Mkm began 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. TheStreet downgraded shares of Newpark Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Roth Capital restated a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Finally, StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Newpark Resources currently has an average rating of “Moderate Buy” and an average price target of $10.75.

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.