Northeast Financial Group Inc. Invests $457,000 in Newpark Resources, Inc. (NYSE:NR)

Northeast Financial Group Inc. acquired a new stake in Newpark Resources, Inc. (NYSE:NR) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 65,902 shares of the oil and gas company’s stock, valued at approximately $457,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC increased its stake in shares of Newpark Resources by 114.5% in the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 5,193 shares during the period. Ground Swell Capital LLC acquired a new position in shares of Newpark Resources in the second quarter valued at approximately $91,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Newpark Resources in the first quarter valued at approximately $86,000. Catalina Capital Group LLC increased its position in Newpark Resources by 10.6% during the 2nd quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after purchasing an additional 1,360 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Newpark Resources during the 3rd quarter valued at approximately $116,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NR. HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research report on Monday, November 11th. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Newpark Resources has an average rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Price Performance

Newpark Resources stock opened at $6.99 on Friday. The stock has a market capitalization of $604.64 million, a price-to-earnings ratio of -3.82 and a beta of 2.87. Newpark Resources, Inc. has a 52-week low of $5.61 and a 52-week high of $8.65. The stock’s 50 day moving average price is $7.08 and its two-hundred day moving average price is $7.59. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29.

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.