Newpark Resources, Inc. (NYSE:NR) Position Lessened by Algert Global LLC

Algert Global LLC lessened its position in Newpark Resources, Inc. (NYSE:NR - Free Report) by 84.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 28,942 shares of the oil and gas company's stock after selling 161,418 shares during the quarter. Algert Global LLC's holdings in Newpark Resources were worth $241,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in 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 worth $269,000 after purchasing an additional 4,255 shares during the period. Marathon Capital Management increased its holdings in Newpark Resources by 1.1% during the 2nd quarter. Marathon Capital Management now owns 266,175 shares of the oil and gas company's stock worth $2,212,000 after purchasing an additional 3,025 shares during the period. AQR Capital Management LLC increased its holdings in Newpark Resources by 12.3% during the 2nd quarter. AQR Capital Management LLC now owns 649,967 shares of the oil and gas company's stock worth $5,401,000 after purchasing an additional 71,073 shares during the period. Marshall Wace LLP increased its holdings in Newpark Resources by 24.0% during the 2nd quarter. Marshall Wace LLP now owns 74,761 shares of the oil and gas company's stock worth $621,000 after purchasing an additional 14,466 shares during the period. Finally, XTX Topco Ltd increased its holdings in Newpark Resources by 75.5% during the 2nd quarter. XTX Topco Ltd now owns 23,602 shares of the oil and gas company's stock worth $196,000 after purchasing an additional 10,156 shares during the period. Hedge funds and other institutional investors own 80.81% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NR. HC Wainwright reissued a "buy" rating and issued a $12.00 target price on shares of Newpark Resources in a research report on Thursday, September 19th. StockNews.com cut Newpark Resources from a "buy" rating to a "hold" rating in a research report on Monday, September 23rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Newpark Resources currently has a consensus rating of "Moderate Buy" and a consensus price target of $11.00.

Newpark Resources Stock Down 0.4 %

Shares of NYSE NR traded down $0.03 on Thursday, hitting $7.05. The company had a trading volume of 364,724 shares, compared to its average volume of 672,451. Newpark Resources, Inc. has a 12-month low of $5.61 and a 12-month high of $8.65. The business has a 50 day moving average of $7.49 and a two-hundred day moving average of $7.65. The company has a quick ratio of 1.61, a current ratio of 2.61 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $600.67 million, a P/E ratio of 39.17 and a beta of 2.86.

Newpark Resources (NYSE:NR - Get Free Report) last announced its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to analysts' expectations of $171.04 million. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, equities research analysts forecast that Newpark Resources, Inc. will post 0.36 earnings per share for the current fiscal year.

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.