Clearbridge Investments LLC grew its stake in Newpark Resources Inc (NYSE:NR) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,806,128 shares of the oil and gas company’s stock after acquiring an additional 47,271 shares during the quarter. Clearbridge Investments LLC owned 4.43% of Newpark Resources worth $32,733,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in Newpark Resources during the 3rd quarter worth approximately $113,000. Raymond James Financial Services Advisors Inc. bought a new stake in Newpark Resources during the 3rd quarter worth approximately $114,000. LMR Partners LLP bought a new stake in Newpark Resources during the 3rd quarter worth approximately $154,000. Campbell & CO Investment Adviser LLC bought a new stake in Newpark Resources during the 3rd quarter worth approximately $170,000. Finally, Crossmark Global Holdings Inc. bought a new stake in Newpark Resources during the 3rd quarter worth approximately $191,000.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. Johnson Rice raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a research note on Monday, March 5th. ValuEngine cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, February 9th. Finally, Cowen set a $10.00 price target on shares of Newpark Resources and gave the stock a “hold” rating in a research note on Thursday, January 11th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $10.50.
Shares of Newpark Resources stock traded down $0.15 on Thursday, hitting $8.85. 7,279 shares of the stock traded hands, compared to its average volume of 486,371. The company has a market cap of $771.74, a PE ratio of -128.55 and a beta of 1.56. Newpark Resources Inc has a one year low of $6.57 and a one year high of $10.20. The company has a quick ratio of 2.14, a current ratio of 3.19 and a debt-to-equity ratio of 0.29.
Newpark Resources (NYSE:NR) last released its quarterly earnings data on Thursday, February 8th. The oil and gas company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $204.40 million during the quarter, compared to the consensus estimate of $202.55 million. Newpark Resources had a positive return on equity of 1.59% and a negative net margin of 0.82%. The business’s revenue was up 49.1% on a year-over-year basis. equities research analysts forecast that Newpark Resources Inc will post 0.39 EPS for the current year.
In other news, EVP Bruce Campbell Smith sold 43,750 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $8.47, for a total value of $370,562.50. Following the completion of the sale, the executive vice president now owns 292,942 shares of the company’s stock, valued at approximately $2,481,218.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.90% of the company’s stock.
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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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