LSV Asset Management Cuts Stake in Newpark Resources Inc (NR)

LSV Asset Management lessened its holdings in Newpark Resources Inc (NYSE:NR) by 33.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,474,466 shares of the oil and gas company’s stock after selling 744,427 shares during the quarter. LSV Asset Management’s holdings in Newpark Resources were worth $12,680,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of NR. BlueCrest Capital Management Ltd purchased a new position in shares of Newpark Resources in the 2nd quarter valued at $100,000. GSA Capital Partners LLP purchased a new position in shares of Newpark Resources in the 3rd quarter valued at $113,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Newpark Resources in the 3rd quarter valued at $114,000. Cubist Systematic Strategies LLC raised its stake in shares of Newpark Resources by 24.8% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,797 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 3,730 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in shares of Newpark Resources in the 2nd quarter valued at $141,000.

A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a report on Tuesday, January 16th. Cowen set a $10.00 price target on shares of Newpark Resources and gave the company a “hold” rating in a report on Thursday, January 11th. SunTrust Banks raised shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Finally, ValuEngine lowered shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $10.50.

Shares of Newpark Resources Inc (NYSE NR) opened at $7.90 on Friday. The firm has a market cap of $686.70, a price-to-earnings ratio of -112.84 and a beta of 1.54. Newpark Resources Inc has a fifty-two week low of $6.40 and a fifty-two week high of $10.20. The company has a current ratio of 2.71, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27.

Newpark Resources (NYSE:NR) last released its quarterly earnings results on Thursday, February 8th. The oil and gas company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.03. The business had revenue of $204.40 million during the quarter, compared to analyst estimates of $202.55 million. Newpark Resources had a negative net margin of 0.82% and a positive return on equity of 1.62%. Newpark Resources’s revenue was up 49.1% on a year-over-year basis. equities analysts anticipate that Newpark Resources Inc will post 0.43 earnings per share for the current year.

In other Newpark Resources news, Director G Stephen Finley sold 11,300 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $8.79, for a total transaction of $99,327.00. Following the completion of the transaction, the director now directly owns 192,658 shares of the company’s stock, valued at approximately $1,693,463.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director David C. Anderson sold 17,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $8.91, for a total transaction of $151,470.00. Following the transaction, the director now directly owns 170,841 shares of the company’s stock, valued at $1,522,193.31. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,423 shares of company stock valued at $360,346. 4.90% of the stock is owned by company insiders.

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

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