Rockefeller Financial Services Inc. boosted its position in Newpark Resources, Inc. (NYSE:NR) by 3.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,414,438 shares of the oil and gas company’s stock after buying an additional 43,634 shares during the period. Rockefeller Financial Services Inc. owned about 1.59% of Newpark Resources worth $10,396,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Newpark Resources during the fourth quarter worth approximately $2,185,000. Comerica Bank raised its position in shares of Newpark Resources by 5.3% in the fourth quarter. Comerica Bank now owns 90,358 shares of the oil and gas company’s stock worth $714,000 after buying an additional 4,581 shares in the last quarter. State Street Corp raised its position in shares of 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 worth $16,083,000 after buying an additional 247,617 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 worth $2,080,000 after buying an additional 28,100 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY raised its position in shares of 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 worth $473,000 after buying an additional 180 shares in the last quarter.
Newpark Resources, Inc. (NR) traded down 1.85% during midday trading on Friday, hitting $7.95. 524,673 shares of the stock traded hands. Newpark Resources, Inc. has a 1-year low of $5.80 and a 1-year high of $8.75. The stock’s market cap is $680.58 million. The company has a 50-day moving average of $7.59 and a 200-day moving average of $7.64.
Newpark Resources (NYSE:NR) last announced its earnings results on Thursday, July 27th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The business had revenue of $183 million during the quarter, compared to analysts’ expectations of $159.51 million. Newpark Resources had a negative net margin of 2.20% and a negative return on equity of 2.92%. The firm’s revenue for the quarter was up 58.7% on a year-over-year basis. During the same quarter last year, the company posted ($0.06) EPS. On average, equities analysts expect that Newpark Resources, Inc. will post $0.08 EPS for the current fiscal year.
NR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Thursday, May 4th. Loop Capital reiterated a “buy” rating on shares of Newpark Resources in a report on Monday, July 3rd. Finally, BidaskClub lowered shares of Newpark Resources from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $25.63.
In related news, EVP Bruce Campbell Smith sold 10,578 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $8.00, for a total transaction of $84,624.00. Following the completion of the sale, the executive vice president now owns 226,034 shares in the company, valued at approximately $1,808,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul L. Howes sold 141,140 shares of the stock in a transaction dated 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 owns 502,625 shares of the company’s stock, valued at approximately $3,995,868.75. The disclosure for this sale can be found here. Insiders have sold a total of 241,985 shares of company stock valued at $1,939,122 in the last quarter. 4.70% of the stock is currently owned by corporate insiders.
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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