Bank of America Corp DE grew its holdings in shares of Newpark Resources Inc (NYSE:NR) by 7.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 766,706 shares of the oil and gas company’s stock after purchasing an additional 53,233 shares during the quarter. Bank of America Corp DE’s holdings in Newpark Resources were worth $8,319,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Federated Investors Inc. PA lifted its stake in shares of Newpark Resources by 304.0% during the 2nd quarter. Federated Investors Inc. PA now owns 271,565 shares of the oil and gas company’s stock worth $2,946,000 after purchasing an additional 204,341 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of Newpark Resources by 152.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 210,153 shares of the oil and gas company’s stock worth $2,280,000 after purchasing an additional 126,901 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Newpark Resources by 15.9% during the 2nd quarter. Wells Fargo & Company MN now owns 1,561,381 shares of the oil and gas company’s stock worth $16,941,000 after purchasing an additional 214,495 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Newpark Resources by 5.7% during the 1st quarter. Principal Financial Group Inc. now owns 717,221 shares of the oil and gas company’s stock worth $5,809,000 after purchasing an additional 38,879 shares during the period. Finally, Swiss National Bank lifted its stake in shares of Newpark Resources by 7.7% during the 2nd quarter. Swiss National Bank now owns 160,100 shares of the oil and gas company’s stock worth $1,737,000 after purchasing an additional 11,500 shares during the period. 97.98% of the stock is currently owned by institutional investors.

NR has been the topic of a number of recent analyst reports. TheStreet raised Newpark Resources from a “c+” rating to a “b-” rating in a research note on Tuesday, June 26th. ValuEngine lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, July 16th. Zacks Investment Research lowered Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday, July 19th. Finally, Credit Suisse Group increased their price target on Newpark Resources from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Newpark Resources currently has a consensus rating of “Buy” and an average price target of $11.00.

NR stock opened at $9.15 on Friday. The firm has a market cap of $884.75 million, a PE ratio of 91.50 and a beta of 1.41. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.91 and a quick ratio of 2.52. Newpark Resources Inc has a 52 week low of $7.45 and a 52 week high of $11.65.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Thursday, July 26th. The oil and gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The business had revenue of $236.30 million during the quarter, compared to the consensus estimate of $227.33 million. Newpark Resources had a return on equity of 4.74% and a net margin of 1.30%. The business’s revenue for the quarter was up 29.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.02 EPS. On average, analysts forecast that Newpark Resources Inc will post 0.42 earnings per share for the current fiscal year.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, 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 the Asia Pacific regions.

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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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