Newpark Resources, Inc. (NYSE:NR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Newpark Resources, Inc. (NYSE:NR) by 23.9% in the third quarter, Holdings Channel reports. The institutional investor owned 185,801 shares of the oil and gas company’s stock after selling 58,385 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Newpark Resources were worth $1,288,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Catalina Capital Group LLC raised its holdings in Newpark Resources by 10.6% in the 2nd 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 period. Calamos Advisors LLC acquired a new position in shares of Newpark Resources during the 2nd quarter worth approximately $1,046,000. Bank of New York Mellon Corp lifted its position in shares of Newpark Resources by 17.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 348,611 shares of the oil and gas company’s stock valued at $2,897,000 after buying an additional 52,494 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Newpark Resources in the 2nd quarter valued at $189,000. Finally, Panagora Asset Management Inc. increased its holdings in Newpark Resources by 44.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock worth $3,672,000 after acquiring an additional 135,427 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Trading Down 0.5 %

Shares of NR stock opened at $7.63 on Wednesday. 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 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The stock’s fifty day moving average is $7.39 and its two-hundred day moving average is $7.64. The firm has a market capitalization of $659.54 million, a P/E ratio of -4.17 and a beta of 2.92.

Analysts Set New Price Targets

Several research firms have issued reports on NR. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.