Newpark Resources, Inc. (NYSE:NR) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 125.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,813 shares of the oil and gas company’s stock after acquiring an additional 14,931 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Newpark Resources were worth $223,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in shares of Newpark Resources by 5.2% during 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 purchasing an additional 303,236 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Newpark Resources by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after purchasing an additional 313,451 shares in the last quarter. Ancora Advisors LLC increased its stake in shares of Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after purchasing an additional 418,570 shares in the last quarter. Roubaix Capital LLC increased its stake in shares of Newpark Resources by 43.7% during the 1st 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 in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in shares of Newpark Resources by 210.2% during the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NR has been the subject of a number of recent research reports. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Thursday. StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Down 0.4 %

NR stock opened at $7.47 on Monday. The stock has a market capitalization 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. Newpark Resources, Inc. has a one year low of $5.61 and a one year high of $8.65. The company has a 50 day moving average price of $7.79 and a two-hundred day moving average price of $7.67.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $171.04 million. During the same period in the previous year, the company earned $0.08 EPS. As a group, sell-side analysts expect that Newpark Resources, Inc. will post 0.36 EPS 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.