Thrivent Financial For Lutherans raised its stake in Newpark Resources, Inc. (NYSE:NR) by 5.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,260 shares of the oil and gas company’s stock after buying an additional 2,580 shares during the period. Thrivent Financial For Lutherans owned about 0.06% of Newpark Resources worth $399,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. State Street Corp increased 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 in the last quarter. Comerica Bank increased 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 in the last quarter. Louisiana State Employees Retirement System increased its stake in Newpark Resources by 1.5% in the first quarter. Louisiana State Employees Retirement System now owns 34,500 shares of the oil and gas company’s stock valued at $279,000 after buying an additional 500 shares in the last quarter. Nationwide Fund Advisors increased its stake in Newpark Resources by 265.2% in the first quarter. Nationwide Fund Advisors now owns 264,590 shares of the oil and gas company’s stock valued at $2,143,000 after buying an additional 192,147 shares in the last quarter. Finally, Virginia Retirement Systems ET AL increased its stake in Newpark Resources by 35.0% in the first quarter. Virginia Retirement Systems ET AL now owns 18,228 shares of the oil and gas company’s stock valued at $148,000 after buying an additional 4,728 shares in the last quarter.
Shares of Newpark Resources, Inc. (NYSE NR) opened at 7.35 on Monday. The stock’s market capitalization is $653.03 million. Newpark Resources, Inc. has a 1-year low of $5.48 and a 1-year high of $8.75. The firm’s 50-day moving average is $7.30 and its 200 day moving average is $7.63.
Newpark Resources (NYSE:NR) last released its quarterly earnings results on Thursday, April 27th. The oil and gas company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $150.48 million. During the same quarter last year, the firm posted ($0.16) earnings per share. The company’s quarterly revenue was up 38.6% compared to the same quarter last year. On average, analysts expect that Newpark Resources, Inc. will post $0.06 EPS for the current fiscal year.
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Several equities research analysts have issued reports on NR shares. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 price objective 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $25.63.
In other news, Director David C. Anderson sold 15,124 shares of Newpark Resources stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $7.35, for a total value of $111,161.40. Following the transaction, the director now owns 187,841 shares of the company’s stock, valued at $1,380,631.35. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gregg Piontek sold 34,372 shares of Newpark Resources stock in a transaction that occurred 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 transaction, the vice president now directly owns 114,308 shares in the company, valued at approximately $919,036.32. The disclosure for this sale can be found here. In the last three months, insiders sold 201,214 shares of company stock worth $1,594,199. Insiders own 4.70% of the company’s stock.
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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