Emerald Acquisition Ltd. Acquires Shares of 208,854 Newpark Resources Inc. (NR)
Emerald Acquisition Ltd. acquired a new stake in shares of Newpark Resources Inc. (NYSE:NR) during the second quarter, Holdings Channel reports. The fund acquired 208,854 shares of the company’s stock, valued at approximately $1,210,000. Emerald Acquisition Ltd. owned about 0.25% of Newpark Resources as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. BlackRock Fund Advisors raised its position in shares of Newpark Resources by 1.5% in the first quarter. BlackRock Fund Advisors now owns 5,665,901 shares of the company’s stock valued at $24,477,000 after buying an additional 85,153 shares during the period. Royce & Associates LP raised its position in Newpark Resources by 16.1% in the first quarter. Royce & Associates LP now owns 2,757,931 shares of the company’s stock valued at $11,914,000 after buying an additional 381,500 shares during the last quarter. Bank of New York Mellon Corp raised its position in Newpark Resources by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 2,464,414 shares of the company’s stock valued at $14,268,000 after buying an additional 228,836 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Newpark Resources by 1,892.8% in the second quarter. Wedge Capital Management L L P NC now owns 1,427,542 shares of the company’s stock valued at $69,336,000 after buying an additional 1,355,907 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Newpark Resources by 9.2% in the first quarter. Geode Capital Management LLC now owns 574,374 shares of the company’s stock valued at $2,481,000 after buying an additional 48,363 shares during the last quarter. Hedge funds and other institutional investors own 98.74% of the company’s stock.
Shares of Newpark Resources Inc. (NYSE:NR) traded down 2.89% during midday trading on Friday, hitting $7.40. 402,422 shares of the stock were exchanged. Newpark Resources Inc. has a 1-year low of $3.35 and a 1-year high of $7.73. The stock’s 50-day moving average price is $7.11 and its 200-day moving average price is $5.74. The firm’s market capitalization is $625.44 million.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, July 28th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.09. Newpark Resources had a negative return on equity of 6.09% and a negative net margin of 21.47%. The firm earned $115.30 million during the quarter, compared to analyst estimates of $106.93 million. During the same period last year, the firm posted ($0.03) EPS. The business’s revenue was down 29.5% compared to the same quarter last year. On average, analysts forecast that Newpark Resources Inc. will post ($0.43) EPS for the current year.
NR has been the topic of a number of research reports. Leerink Swann reaffirmed a “buy” rating and issued a $108.00 price target on shares of Newpark Resources in a research note on Thursday, August 25th. Zacks Investment Research lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group AG initiated coverage on shares of Newpark Resources in a research note on Monday, July 18th. They issued an “outperform” rating and a $7.00 price target on the stock. Capital One Financial Corp. upgraded shares of Newpark Resources from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $5.00 to $6.00 in a report on Wednesday, June 15th. Finally, Loop Capital initiated coverage on shares of Newpark Resources in a report on Friday, September 30th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $21.18.
Newpark Resources Company Profile
Newpark Resources, Inc is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems, and Mats and Integrated Services. The Company’s Fluids Systems segment offers customized solutions, including technical drilling projects involving subsurface conditions, such as horizontal, directional, geologically deep or deep water drilling.
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