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Envestnet Asset Management Inc. Buys 1,725 Shares of Newpark Resources Inc (NYSE:NR)

By September 15, 2019 No Comments

Envestnet Asset Management Inc. grew its stake in shares of Newpark Resources Inc (NYSE:NR) by 3.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 49,313 shares of the oil and gas company’s stock after buying an additional 1,725 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.05% of Newpark Resources worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NR. Vaughan Nelson Investment Management L.P. grew its stake in shares of Newpark Resources by 6.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock worth $30,143,000 after purchasing an additional 212,325 shares during the last quarter. Foundry Partners LLC grew its stake in shares of Newpark Resources by 12.9% in the second quarter. Foundry Partners LLC now owns 696,390 shares of the oil and gas company’s stock worth $5,167,000 after purchasing an additional 79,600 shares during the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of Newpark Resources by 0.5% in the first quarter. Rockefeller Capital Management L.P. now owns 1,640,664 shares of the oil and gas company’s stock worth $15,029,000 after purchasing an additional 8,887 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Newpark Resources by 461.6% in the second quarter. SG Americas Securities LLC now owns 168,060 shares of the oil and gas company’s stock worth $1,247,000 after purchasing an additional 138,137 shares during the last quarter. Finally, Hillcrest Asset Management LLC grew its stake in shares of Newpark Resources by 35.9% in the first quarter. Hillcrest Asset Management LLC now owns 804,936 shares of the oil and gas company’s stock worth $7,373,000 after purchasing an additional 212,764 shares during the last quarter. 99.59% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NR opened at $7.65 on Friday. The firm’s 50-day moving average price is $6.87 and its 200-day moving average price is $7.58. Newpark Resources Inc has a 1-year low of $6.06 and a 1-year high of $10.90. The firm has a market capitalization of $671.86 million, a P/E ratio of 24.87 and a beta of 1.53. The company has a current ratio of 3.57, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32.

Newpark Resources (NYSE:NR) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Newpark Resources had a net margin of 2.17% and a return on equity of 5.10%. The company had revenue of $216.41 million for the quarter, compared to analyst estimates of $216.63 million. During the same quarter in the prior year, the company posted $0.12 EPS. Newpark Resources’s revenue for the quarter was down 8.4% on a year-over-year basis. Equities research analysts forecast that Newpark Resources Inc will post 0.26 EPS for the current year.

Several analysts recently weighed in on NR shares. ValuEngine cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Raymond James set a $12.00 price objective on shares of Newpark Resources and gave the stock a “buy” rating in a research note on Wednesday, July 3rd. Finally, Zacks Investment Research cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Thursday. Two analysts have rated the stock with a sell rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Newpark Resources Company Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.

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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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