State Board of Administration of Florida Retirement System reduced its holdings in shares of Newpark Resources Inc (NYSE:NR) by 5.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 198,927 shares of the oil and gas company’s stock after selling 11,226 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Newpark Resources were worth $2,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. New Amsterdam Partners LLC NY bought a new position in Newpark Resources in the second quarter valued at about $153,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new stake in Newpark Resources in the second quarter worth about $173,000. Pillar Pacific Capital Management LLC purchased a new stake in Newpark Resources in the second quarter worth about $195,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Newpark Resources in the second quarter worth about $205,000. Finally, Advisors Asset Management Inc. increased its position in Newpark Resources by 702.1% in the second quarter. Advisors Asset Management Inc. now owns 172,884 shares of the oil and gas company’s stock worth $304,000 after buying an additional 151,329 shares in the last quarter.

Shares of NR opened at $8.28 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.70 and a quick ratio of 2.31. The stock has a market capitalization of $751.89 million, a price-to-earnings ratio of 82.80 and a beta of 1.59. Newpark Resources Inc has a 52 week low of $7.27 and a 52 week high of $11.65.

Newpark Resources (NYSE:NR) last released its earnings results on Thursday, October 25th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). Newpark Resources had a return on equity of 5.56% and a net margin of 1.36%. The business had revenue of $235.33 million for the quarter, compared to analysts’ expectations of $237.08 million. As a group, research analysts anticipate that Newpark Resources Inc will post 0.38 earnings per share for the current fiscal year.

A number of brokerages have commented on NR. ValuEngine upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research report on Saturday, July 28th. Credit Suisse Group upped their price target on Newpark Resources from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Zacks Investment Research cut Newpark Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, TheStreet cut Newpark Resources from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $11.00.

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About Newpark Resources

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.

Further Reading: Relative Strength Index

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

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