The Manufacturers Life Insurance Company Purchases 4,255 Shares of Newpark Resources, Inc. (NYSE:NR)

The Manufacturers Life Insurance Company boosted its position in Newpark Resources, Inc. (NYSE:NR) by 15.1% during the second quarter, Holdings Channel reports. The fund owned 32,423 shares of the oil and gas company’s stock after acquiring an additional 4,255 shares during the period. The Manufacturers Life Insurance Company’s holdings in Newpark Resources were worth $269,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC boosted its position in Newpark Resources by 182.5% during the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock valued at $4,678,000 after buying an additional 418,570 shares during the period. Russell Investments Group Ltd. boosted its position in Newpark Resources by 210.2% during the first quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after buying an additional 349,935 shares during the period. American Century Companies Inc. boosted its position in Newpark Resources by 19.9% during the second quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock valued at $15,720,000 after buying an additional 313,451 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in shares of Newpark Resources by 161.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 199,066 shares during the period. Finally, Roubaix Capital LLC boosted its holdings in shares of Newpark Resources by 43.7% during the first quarter. Roubaix Capital LLC now owns 622,965 shares of the oil and gas company’s stock worth $4,498,000 after purchasing an additional 189,333 shares during the period. Institutional investors own 80.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a report on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Price Performance

NR stock opened at $7.07 on Friday. Newpark Resources, Inc. has a 1 year low of $5.61 and a 1 year high of $8.65. The company has a market cap of $601.95 million, a P/E ratio of 39.25 and a beta of 2.86. The firm has a 50-day moving average of $7.44 and a 200 day moving average of $7.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61.

Newpark Resources (NYSE:NR) last released its quarterly earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The company had revenue of $179.01 million during the quarter, compared to the consensus estimate of $171.04 million. During the same period in the prior year, the firm earned $0.08 earnings per share. On average, sell-side analysts forecast that Newpark Resources, Inc. will post 0.32 EPS for the current year.

Newpark Resources Profile

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.