Rhumbline Advisers Has $1.34 Million Holdings in Newpark Resources, Inc. (NR)
Rhumbline Advisers raised its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 2.7% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 182,581 shares of the oil and gas company’s stock after purchasing an additional 4,769 shares during the period. Rhumbline Advisers owned approximately 0.21% of Newpark Resources worth $1,342,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Driehaus Capital Management LLC acquired a new position in Newpark Resources during the 1st quarter valued at about $114,000. State of Alaska Department of Revenue boosted its stake 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 valued at $127,000 after purchasing an additional 8,064 shares during the last quarter. GW&K Investment Management LLC boosted its stake 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 valued at $132,000 after purchasing an additional 4,765 shares during the last quarter. Virginia Retirement Systems ET AL boosted its stake in Newpark Resources by 35.0% during the 1st quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock valued at $148,000 after purchasing an additional 4,728 shares during the last quarter. Finally, Mason Street Advisors LLC boosted its stake 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 valued at $161,000 after purchasing an additional 1,318 shares during the last quarter.
In related news, VP Matthew Lanigan sold 40,771 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $8.46, for a total transaction of $344,922.66. Following the completion of the sale, the vice president now owns 50,000 shares of the company’s stock, valued at $423,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.90% of the stock is owned by company insiders.
Newpark Resources, Inc. (NYSE NR) opened at 9.60 on Friday. Newpark Resources, Inc. has a 52 week low of $5.80 and a 52 week high of $9.82. The stock has a 50 day moving average price of $8.23 and a 200-day moving average price of $7.72. The stock’s market cap is $821.84 million.
Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share 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 the consensus estimate of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The firm’s quarterly revenue was up 58.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.06) earnings per share. On average, equities analysts anticipate that Newpark Resources, Inc. will post $0.09 EPS for the current fiscal year.
A number of research firms have issued reports on NR. Zacks Investment Research upgraded Newpark Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded Newpark Resources from a “strong sell” rating to a “sell” rating in a research note on Friday, August 4th. Finally, Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.15.
Newpark Resources Profile
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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