Dynamic Technology Lab Private Ltd Buys Shares of 67,999 Newpark Resources, Inc. (NYSE:NR)

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Newpark Resources, Inc. (NYSE:NR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,999 shares of the oil and gas company's stock, valued at approximately $471,000. Dynamic Technology Lab Private Ltd owned 0.08% of Newpark Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in Newpark Resources by 10.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company's stock worth $205,000 after buying an additional 2,730 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in Newpark Resources in the 2nd quarter worth approximately $538,000. Panagora Asset Management Inc. increased its stake 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 during the last quarter. Victory Capital Management Inc. bought a new stake in Newpark Resources in the 3rd quarter worth approximately $1,357,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Newpark Resources by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company's stock valued at $269,000 after purchasing an additional 4,255 shares during the last quarter. Hedge funds and other institutional investors own 80.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com downgraded Newpark Resources from a "buy" rating to a "hold" rating in a research report on Monday, September 23rd. HC Wainwright reiterated a "buy" rating and issued a $12.00 target price on shares of Newpark Resources in a report 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.com, Newpark Resources has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Newpark Resources Price Performance

NR stock traded up $0.07 during mid-day trading on Friday, reaching $8.36. 424,791 shares of the company's stock were exchanged, compared to its average volume of 666,569. The company has a market cap of $723.14 million, a price-to-earnings ratio of -4.57 and a beta of 2.87. The stock's 50 day moving average is $7.19 and its 200 day moving average is $7.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. Newpark Resources, Inc. has a 12-month low of $5.61 and a 12-month high of $8.65.

Newpark Resources Company 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.