Wells Fargo & Company MN raised its position in shares of Newpark Resources Inc (NYSE:NR) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,367,835 shares of the oil and gas company’s stock after purchasing an additional 101,730 shares during the period. Wells Fargo & Company MN owned 1.59% of Newpark Resources worth $11,763,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of NR. GSA Capital Partners LLP bought a new stake in shares of Newpark Resources during the 3rd quarter worth about $113,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Newpark Resources during the 3rd quarter worth about $114,000. LMR Partners LLP bought a new stake in shares of Newpark Resources during the 3rd quarter worth about $154,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Newpark Resources during the 3rd quarter worth about $170,000. Finally, Crossmark Global Holdings Inc. bought a new stake in shares of Newpark Resources during the 3rd quarter worth about $191,000.
In related news, EVP Bruce Campbell Smith sold 43,750 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $8.47, for a total value of $370,562.50. Following the sale, the executive vice president now directly owns 292,942 shares in the company, valued at approximately $2,481,218.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.90% of the stock is owned by insiders.
Newpark Resources (NYSE:NR) last released its earnings results on Thursday, February 8th. The oil and gas company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. Newpark Resources had a negative net margin of 0.82% and a positive return on equity of 1.59%. The business had revenue of $204.40 million for the quarter, compared to the consensus estimate of $202.55 million. The firm’s revenue was up 49.1% compared to the same quarter last year. analysts forecast that Newpark Resources Inc will post 0.39 EPS for the current year.
A number of research firms have commented on NR. Cowen set a $10.00 price target on shares of Newpark Resources and gave the stock a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Johnson Rice upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating in a report on Monday, March 5th. Finally, ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. Newpark Resources currently has a consensus rating of “Hold” and an average target price of $10.50.
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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.
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