Newpark Resources, Inc. (NYSE:NR) is Pennant Select LLC's 9th Largest Position

Pennant Select LLC increased its stake in shares of Newpark Resources, Inc. (NYSE:NR - Free Report) by 65.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 990,000 shares of the oil and gas company's stock after buying an additional 390,000 shares during the quarter. Newpark Resources comprises approximately 4.8% of Pennant Select LLC's holdings, making the stock its 9th largest position. Pennant Select LLC owned 1.14% of Newpark Resources worth $6,861,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Newpark Resources by 114.5% during the second 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. Ground Swell Capital LLC acquired a new position in Newpark Resources during the 2nd quarter valued at about $91,000. Catalina Capital Group LLC grew its position 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 last quarter. SG Americas Securities LLC acquired a new stake in shares of Newpark Resources in the third quarter valued at approximately $116,000. Finally, GSA Capital Partners LLP raised its holdings in shares of Newpark Resources by 68.1% during the third quarter. GSA Capital Partners LLP now owns 17,618 shares of the oil and gas company's stock valued at $122,000 after buying an additional 7,140 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and issued a $12.00 price objective on shares of Newpark Resources in a report on Monday, November 11th. StockNews.com cut 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 four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Newpark Resources Trading Up 0.8 %

Shares of Newpark Resources stock traded up $0.07 on Friday, reaching $8.36. 424,789 shares of the company were exchanged, compared to its average volume of 666,569. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. Newpark Resources, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $8.65. The firm has a market capitalization of $723.14 million, a price-to-earnings ratio of -4.53 and a beta of 2.87. The stock has a fifty day moving average price of $7.17 and a 200-day moving average price of $7.62.

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.