Newpark Resources, Inc. (NYSE:NR) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in shares of Newpark Resources, Inc. (NYSE:NR - Free Report) by 439.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,136 shares of the oil and gas company's stock after purchasing an additional 284,421 shares during the quarter. Harbor Capital Advisors Inc. owned approximately 0.40% of Newpark Resources worth $2,420,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Janney Montgomery Scott LLC grew its holdings in shares of Newpark Resources by 3.4% during the third quarter. Janney Montgomery Scott LLC now owns 126,977 shares of the oil and gas company's stock valued at $880,000 after buying an additional 4,187 shares during the last quarter. Roubaix Capital LLC grew its position in shares of Newpark Resources by 6.3% in the third quarter. Roubaix Capital LLC now owns 617,079 shares of the oil and gas company's stock valued at $4,276,000 after purchasing an additional 36,802 shares in the last quarter. First Bank & Trust grew its position in shares of Newpark Resources by 10.0% during the 3rd quarter. First Bank & Trust now owns 21,704 shares of the oil and gas company's stock valued at $150,000 after purchasing an additional 1,965 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Newpark Resources by 3.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 43,203 shares of the oil and gas company's stock valued at $299,000 after acquiring an additional 1,517 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of Newpark Resources by 79.3% during the 3rd quarter. CWM LLC now owns 17,443 shares of the oil and gas company's stock worth $121,000 after acquiring an additional 7,713 shares during the last quarter. Institutional investors own 80.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on NR shares. HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price target on shares of Newpark Resources in a research note 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 four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Newpark Resources Stock Up 5.3 %

Newpark Resources stock traded up $0.35 during trading hours on Tuesday, reaching $6.92. The stock had a trading volume of 663,559 shares, compared to its average volume of 661,497. Newpark Resources, Inc. has a 52 week low of $5.61 and a 52 week high of $8.65. The business's 50 day moving average price is $7.17 and its 200-day moving average price is $7.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. The company has a market cap of $598.37 million, a price-to-earnings ratio of 27.68 and a beta of 2.87.

Newpark Resources (NYSE:NR - Get Free Report) last issued its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million during the quarter, compared to analysts' expectations of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same quarter last year, the company posted $0.08 earnings per share. Sell-side analysts anticipate that Newpark Resources, Inc. will post 0.32 EPS for the current year.

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.