Rhumbline Advisers Boosts Stock Position in Newpark Resources, Inc. (NYSE:NR)

Rhumbline Advisers grew its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 3.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 160,160 shares of the oil and gas company’s stock after buying an additional 4,909 shares during the period. Rhumbline Advisers’ holdings in Newpark Resources were worth $1,331,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in NR. Victory Capital Management Inc. purchased a new position in Newpark Resources in the 4th quarter worth approximately $67,000. Swiss National Bank purchased a new position in Newpark Resources in the 4th quarter worth approximately $1,079,000. Private Advisor Group LLC purchased a new position in Newpark Resources in the 4th quarter worth approximately $134,000. Teacher Retirement System of Texas purchased a new position in Newpark Resources in the 4th quarter worth approximately $712,000. Finally, Dimensional Fund Advisors LP increased its stake in Newpark Resources by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock worth $40,859,000 after acquiring an additional 303,236 shares during the last quarter. 80.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NR. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Sunday, September 15th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Thursday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

NYSE NR opened at $7.47 on Friday. The company has a market cap of $636.46 million, a P/E ratio of 41.50 and a beta of 2.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61. The business’s 50 day moving average price is $7.79 and its 200-day moving average price is $7.66. Newpark Resources, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $8.65.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter in the previous year, the company posted $0.08 EPS. Sell-side analysts predict that Newpark Resources, Inc. will post 0.36 earnings per share for the current year.

About Newpark Resources

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production (E&P) industry. It operates through two segments, Fluids Systems and Industrial Solutions. The Fluids Systems segment provides drilling, completion, and stimulation fluids products and related technical services to customers primarily in the North America, Europe, the Middle East, and Africa, as well as other countries in the Asia Pacific and Latin America.