Newpark Resources, Inc. (NR) Stake Reduced by California Public Employees Retirement System

California Public Employees Retirement System decreased its stake in Newpark Resources, Inc. (NYSE:NR) by 16.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 391,100 shares of the oil and gas company’s stock after selling 78,000 shares during the period. California Public Employees Retirement System owned approximately 0.46% of Newpark Resources worth $3,168,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Comerica Bank boosted its stake in Newpark Resources by 5.3% in the fourth quarter. Comerica Bank now owns 90,358 shares of the oil and gas company’s stock valued at $714,000 after buying an additional 4,581 shares during the last quarter. State Street Corp boosted its stake in Newpark Resources by 13.1% in the fourth quarter. State Street Corp now owns 2,143,792 shares of the oil and gas company’s stock valued at $16,083,000 after buying an additional 247,617 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Newpark Resources by 11.3% in the fourth quarter. Renaissance Technologies LLC now owns 277,300 shares of the oil and gas company’s stock valued at $2,080,000 after buying an additional 28,100 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in Newpark Resources by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 63,100 shares of the oil and gas company’s stock valued at $473,000 after buying an additional 180 shares during the last quarter. Finally, Norges Bank acquired a new stake in Newpark Resources during the fourth quarter valued at $10,393,000.

Newpark Resources, Inc. (NR) opened at 7.35 on Friday. The company’s market capitalization is $653.03 million. The stock has a 50 day moving average price of $7.30 and a 200-day moving average price of $7.63. Newpark Resources, Inc. has a 52 week low of $5.48 and a 52 week high of $8.75.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, April 27th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. Newpark Resources had a negative net margin of 5.51% and a negative return on equity of 4.34%. The company had revenue of $158.70 million during the quarter, compared to the consensus estimate of $150.48 million. During the same period in the previous year, the firm posted ($0.16) EPS. The firm’s revenue was up 38.6% compared to the same quarter last year. On average, equities analysts predict that Newpark Resources, Inc. will post $0.06 earnings per share for the current fiscal year.

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A number of brokerages have recently commented on NR. Zacks Investment Research upgraded Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a research note on Thursday, May 4th. Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a research note on Monday, July 3rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $25.63.

In other news, VP Gregg Piontek sold 34,372 shares of Newpark Resources stock in a transaction on Friday, May 19th. The shares were sold at an average price of $8.04, for a total transaction of $276,350.88. Following the completion of the sale, the vice president now directly owns 114,308 shares of the company’s stock, valued at approximately $919,036.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Paul L. Howes sold 141,140 shares of Newpark Resources stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $7.95, for a total transaction of $1,122,063.00. Following the sale, the insider now directly owns 502,625 shares of the company’s stock, valued at $3,995,868.75. The disclosure for this sale can be found here. Insiders have sold a total of 201,214 shares of company stock valued at $1,594,199 over the last ninety days. 4.70% of the stock is currently owned by insiders.

Newpark Resources Company 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.