NorthCrest Asset Manangement LLC Buys 1,517 Shares of Newpark Resources, Inc. (NYSE:NR)

NorthCrest Asset Manangement LLC grew its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 3.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,203 shares of the oil and gas company’s stock after acquiring an additional 1,517 shares during the period. NorthCrest Asset Manangement LLC owned about 0.05% of Newpark Resources worth $299,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of NR. CWM LLC grew its position in shares of Newpark Resources by 114.5% during the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 5,193 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Newpark Resources during the 1st quarter valued at approximately $86,000. Ground Swell Capital LLC purchased a new stake in shares of Newpark Resources during the 2nd quarter valued at approximately $91,000. Catalina Capital Group LLC purchased a new stake in shares of Newpark Resources during the 1st quarter valued at approximately $93,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Newpark Resources during the 3rd quarter valued at approximately $116,000. 80.81% of the stock is owned by institutional investors.

Newpark Resources Stock Performance

NYSE NR opened at $6.78 on Monday. Newpark Resources, Inc. has a 1 year low of $5.61 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The stock has a market capitalization of $577.67 million, a PE ratio of 37.67 and a beta of 2.86. The company’s 50 day simple moving average is $7.36 and its two-hundred day simple moving average is $7.62.

Newpark Resources (NYSE:NR) last posted its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $179.01 million for the quarter, compared to analysts’ expectations of $171.04 million. During the same period in the prior year, the company posted $0.08 EPS. Analysts predict that Newpark Resources, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on NR shares. StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a research note on Thursday, September 19th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Newpark Resources currently has an average rating of “Moderate Buy” and an average price target of $11.00.

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.