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WINTON GROUP Ltd decreased its stake in shares of Newpark Resources Inc (NYSE:NR) by 43.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,977 shares of the oil and gas company’s stock after selling 21,202 shares during the period. WINTON GROUP Ltd’s holdings in Newpark Resources were worth $304,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in shares of Newpark Resources by 702.1% during the second quarter. Advisors Asset Management Inc. now owns 172,884 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 151,329 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Newpark Resources during the second quarter valued at approximately $173,000. Bank of America Corp DE increased its stake in shares of Newpark Resources by 7.5% during the second quarter. Bank of America Corp DE now owns 766,706 shares of the oil and gas company’s stock valued at $8,319,000 after acquiring an additional 53,233 shares during the period. Epoch Investment Partners Inc. increased its stake in shares of Newpark Resources by 9.7% during the second quarter. Epoch Investment Partners Inc. now owns 2,102,772 shares of the oil and gas company’s stock valued at $22,815,000 after acquiring an additional 185,550 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Newpark Resources by 69.6% during the second quarter. Renaissance Technologies LLC now owns 457,000 shares of the oil and gas company’s stock valued at $4,958,000 after acquiring an additional 187,500 shares during the period. 97.97% of the stock is currently owned by institutional investors and hedge funds.
NR traded down $0.10 during trading on Friday, hitting $7.86. The stock had a trading volume of 1,166,567 shares, compared to its average volume of 503,060. The company has a market capitalization of $711.78 million, a PE ratio of 23.12 and a beta of 1.41. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.91 and a quick ratio of 2.52. Newpark Resources Inc has a 12 month low of $7.32 and a 12 month high of $11.65.
Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.06). The company had revenue of $235.33 million for the quarter, compared to the consensus estimate of $237.08 million. Newpark Resources had a net margin of 1.36% and a return on equity of 5.58%. Analysts anticipate that Newpark Resources Inc will post 0.41 earnings per share for the current year.
A number of research badysts recently commented on the stock. ValuEngine lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Zacks Investment Research raised shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research note on Friday, September 28th. Finally, Credit Suisse Group raised their price objective on shares of Newpark Resources from $11.00 to $12.00 and gave the stock an “outperform” rating in a research note on Monday, July 30th. Three equities research badysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $11.00.
Newpark Resources Company Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific regions.
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