Virginia Retirement Systems ET AL Has $115,000 Holdings in Newpark Resources, Inc. (NR)
Virginia Retirement Systems ET AL lessened its holdings in shares of Newpark Resources, Inc. (NYSE:NR) by 14.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 15,628 shares of the oil and gas company’s stock after selling 2,600 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Newpark Resources were worth $115,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC acquired a new position in Newpark Resources during the 1st quarter worth $114,000. State of Alaska Department of Revenue boosted its position in Newpark Resources by 86.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 17,414 shares of the oil and gas company’s stock worth $127,000 after acquiring an additional 8,064 shares during the period. GW&K Investment Management LLC boosted its position in Newpark Resources by 36.0% during the 2nd quarter. GW&K Investment Management LLC now owns 18,005 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 4,765 shares during the period. Mason Street Advisors LLC boosted its position in Newpark Resources by 7.1% during the 1st quarter. Mason Street Advisors LLC now owns 19,817 shares of the oil and gas company’s stock worth $161,000 after acquiring an additional 1,318 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Newpark Resources by 8.3% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,000 shares of the oil and gas company’s stock worth $154,000 after acquiring an additional 1,610 shares during the period.
Shares of Newpark Resources, Inc. (NR) opened at 8.90 on Wednesday. The firm’s market cap is $761.91 million. Newpark Resources, Inc. has a one year low of $5.80 and a one year high of $9.02. The stock has a 50 day moving average price of $7.93 and a 200 day moving average price of $7.65.
Newpark Resources (NYSE:NR) last released its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $183.00 million during the quarter, compared to analysts’ expectations of $159.51 million. Newpark Resources had a negative return on equity of 2.92% and a negative net margin of 2.20%. The business’s revenue for the quarter was up 58.7% on a year-over-year basis. During the same period last year, the firm earned ($0.06) EPS. On average, equities research analysts forecast that Newpark Resources, Inc. will post $0.09 EPS for the current year.
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A number of brokerages have issued reports on NR. Zacks Investment Research upgraded Newpark Resources from a “sell” rating to a “hold” rating in a research report on Thursday, August 3rd. BidaskClub upgraded Newpark Resources from a “strong sell” rating to a “sell” rating in a research report on Friday, August 4th. Finally, Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a research report on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Newpark Resources currently has a consensus rating of “Hold” and an average price target of $9.15.
In other news, VP Matthew Lanigan sold 40,771 shares of Newpark Resources stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $8.46, for a total value of $344,922.66. Following the completion of the sale, the vice president now directly owns 50,000 shares of the company’s stock, valued at approximately $423,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.90% of the stock is currently owned by company insiders.
About Newpark Resources
Newpark Resources, Inc is a supplier providing products and services primarily to the oil and gas exploration and production (E&P) industry. The Company’s segments include Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America; Europe, the Middle East and Africa; Latin America, and Asia Pacific regions.
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