Newpark Resources, Inc. (NYSE:NR) Sees Significant Growth in Short Interest

Newpark Resources, Inc. (NYSE:NR) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,660,000 shares, an increase of 31.7% from the September 15th total of 1,260,000 shares. Based on an average daily trading volume, of 667,500 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.1% of the company’s shares are short sold.

Institutional Investors Weigh In On Newpark Resources

Several institutional investors and hedge funds have recently bought and sold shares of NR. Ancora Advisors LLC lifted its holdings in Newpark Resources by 182.5% in the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after buying an additional 418,570 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after purchasing an additional 349,935 shares during the period. American Century Companies Inc. lifted its stake in shares of Newpark Resources by 19.9% in the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock valued at $15,720,000 after purchasing an additional 313,451 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Newpark Resources by 161.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock valued at $2,327,000 after purchasing an additional 199,066 shares during the period. Finally, Roubaix Capital LLC lifted its stake in shares of Newpark Resources by 43.7% in the 1st quarter. Roubaix Capital LLC now owns 622,965 shares of the oil and gas company’s stock valued at $4,498,000 after purchasing an additional 189,333 shares during the period. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Price Performance

NYSE NR traded down $0.13 during trading on Tuesday, reaching $6.98. The company’s stock had a trading volume of 548,407 shares, compared to its average volume of 669,986. The stock has a market capitalization of $594.71 million, a PE ratio of 39.50 and a beta of 2.86. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The firm has a fifty day moving average of $7.49 and a 200 day moving average of $7.66. Newpark Resources has a one year low of $5.61 and a one year high of $8.65.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to analyst estimates of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same period in the prior year, the company earned $0.08 EPS. Analysts expect that Newpark Resources will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com downgraded 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 five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

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.