Hsbc Holdings PLC Sells 36,829 Shares of Newpark Resources, Inc. (NYSE:NR)

Hsbc Holdings PLC cut its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 46.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,878 shares of the oil and gas company’s stock after selling 36,829 shares during the period. Hsbc Holdings PLC owned 0.05% of Newpark Resources worth $355,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NR. Catalina Capital Group LLC increased its position in shares of Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,360 shares during the last quarter. Bleakley Financial Group LLC increased its position in shares of Newpark Resources by 8.1% in the first quarter. Bleakley Financial Group LLC now owns 21,466 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 1,604 shares during the last quarter. Riverwater Partners LLC boosted its stake in Newpark Resources by 4.4% in the first quarter. Riverwater Partners LLC now owns 75,254 shares of the oil and gas company’s stock worth $543,000 after buying an additional 3,140 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Newpark Resources by 10.3% in 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 buying an additional 3,232 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Newpark Resources by 9.6% in the second quarter. Principal Financial Group Inc. now owns 37,348 shares of the oil and gas company’s stock worth $310,000 after buying an additional 3,270 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors.

Newpark Resources Stock Performance

NYSE:NR opened at $6.95 on Thursday. The firm has a market cap of $592.15 million, a PE ratio of 38.61 and a beta of 2.86. Newpark Resources, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $8.65. 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 has a 50 day moving average price of $7.62 and a 200-day moving average price of $7.67.

Newpark Resources (NYSE:NR) last announced its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The company had revenue of $179.01 million during 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 prior year, the company earned $0.08 earnings per share. Equities research analysts predict that Newpark Resources, Inc. will post 0.36 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NR. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 target price on shares of Newpark Resources in a research note on Thursday, September 19th. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.00.

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.