Principal Financial Group Inc. Has $210,000 Holdings in Newpark Resources, Inc. (NYSE:NR)

Principal Financial Group Inc. reduced its position in shares of Newpark Resources, Inc. (NYSE:NR) by 18.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,357 shares of the oil and gas company’s stock after selling 6,991 shares during the period. Principal Financial Group Inc.’s holdings in Newpark Resources were worth $210,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co bought a new stake in shares of Newpark Resources during the first quarter worth $378,000. Price T Rowe Associates Inc. MD grew its stake in Newpark Resources by 10.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 34,521 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 3,232 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in shares of Newpark Resources by 67.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock valued at $2,368,000 after acquiring an additional 131,609 shares during the period. Ancora Advisors LLC grew its stake in shares of Newpark Resources by 182.5% in the 1st 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. Finally, First Bank & Trust increased its stake in Newpark Resources by 26.6% during the 2nd quarter. First Bank & Trust now owns 19,739 shares of the oil and gas company’s stock valued at $164,000 after purchasing an additional 4,150 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NR shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research report on Monday, November 11th. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Newpark Resources presently has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

Shares of NR opened at $8.06 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. The stock has a market cap of $697.19 million, a P/E ratio of -4.33 and a beta of 2.87. The business’s 50 day moving average price is $7.11 and its 200-day moving average price is $7.61. Newpark Resources, Inc. has a 52 week low of $5.61 and a 52 week high of $8.65.

Newpark Resources Company 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.