M&T Bank Corp Boosts Holdings in Newpark Resources, Inc. (NYSE:NR)

M&T Bank Corp lifted its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 29.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,212 shares of the oil and gas company’s stock after acquiring an additional 70,863 shares during the period. M&T Bank Corp owned 0.36% of Newpark Resources worth $2,150,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NR. Catalina Capital Group LLC boosted its holdings in Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock valued at $118,000 after acquiring an additional 1,360 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Newpark Resources by 10.8% in the 3rd quarter. Captrust Financial Advisors now owns 14,624 shares of the oil and gas company’s stock worth $101,000 after purchasing an additional 1,430 shares during the period. Ironwood Investment Management LLC lifted its stake in shares of Newpark Resources by 1.0% in the 2nd quarter. Ironwood Investment Management LLC now owns 145,520 shares of the oil and gas company’s stock valued at $1,209,000 after purchasing an additional 1,442 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in shares of Newpark Resources by 3.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 43,203 shares of the oil and gas company’s stock worth $299,000 after purchasing an additional 1,517 shares during the period. Finally, First Bank & Trust increased its position in Newpark Resources by 10.0% during the 3rd quarter. First Bank & Trust now owns 21,704 shares of the oil and gas company’s stock worth $150,000 after purchasing an additional 1,965 shares in the last quarter. 80.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Newpark Resources Stock Down 2.5 %

Shares of NYSE:NR opened at $7.74 on Friday. The company has a market capitalization of $669.49 million, a price-to-earnings ratio of -4.23 and a beta of 2.92. The company has a 50 day moving average of $7.38 and a two-hundred day moving average of $7.64. Newpark Resources, Inc. has a 52-week low of $5.61 and a 52-week high of $8.65. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02.

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.