Dynamic Technology Lab Private Ltd Invests $471,000 in Newpark Resources, Inc. (NYSE:NR)

Dynamic Technology Lab Private Ltd acquired a new stake in Newpark Resources, Inc. (NYSE:NR) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 67,999 shares of the oil and gas company’s stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NR. Oppenheimer Asset Management Inc. raised its stake in shares of Newpark Resources by 10.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company’s stock valued at $205,000 after purchasing an additional 2,730 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in shares of Newpark Resources in the 2nd quarter worth approximately $538,000. Panagora Asset Management Inc. boosted its holdings in shares of Newpark Resources by 44.2% in the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock valued at $3,672,000 after acquiring an additional 135,427 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Newpark Resources in the third quarter valued at approximately $1,357,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Newpark Resources by 15.1% during the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after acquiring an additional 4,255 shares during the period. 80.81% of the stock is owned by institutional investors and hedge funds.

Newpark Resources Stock Performance

NYSE:NR opened at $8.36 on Friday. Newpark Resources, Inc. has a twelve month low of $5.61 and a twelve month high of $8.65. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $7.19 and a 200-day moving average of $7.63. The firm has a market cap of $723.14 million, a price-to-earnings ratio of -4.57 and a beta of 2.87.

Analysts Set New Price Targets

A number of brokerages have issued reports on NR. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Newpark Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Newpark Resources Company 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.