Renaissance Technologies LLC Increases Stock Holdings in Newpark Resources, Inc. (NYSE:NR)

Renaissance Technologies LLC increased its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 653,000 shares of the oil and gas company’s stock after buying an additional 15,859 shares during the quarter. Renaissance Technologies LLC owned about 0.77% of Newpark Resources worth $5,426,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its stake in shares of Newpark Resources by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,153,464 shares of the oil and gas company’s stock valued at $40,859,000 after purchasing an additional 303,236 shares during the period. American Century Companies Inc. raised its position in shares of Newpark Resources by 19.9% in the second quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after acquiring an additional 313,451 shares during the period. Ancora Advisors LLC boosted its stake in shares of Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after acquiring an additional 418,570 shares in the last quarter. Roubaix Capital LLC grew its position in shares of Newpark Resources by 43.7% during the 1st quarter. Roubaix Capital LLC now owns 622,965 shares of the oil and gas company’s stock valued at $4,498,000 after acquiring an additional 189,333 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of Newpark Resources by 210.2% in the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock valued at $3,729,000 after purchasing an additional 349,935 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NR. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

Shares of NYSE:NR opened at $6.81 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 2.61 and a quick ratio of 1.61. Newpark Resources, Inc. has a 1 year low of $5.61 and a 1 year high of $8.65. The firm has a market capitalization of $588.86 million, a PE ratio of 37.84 and a beta of 2.87. The business’s 50 day moving average price is $7.71 and its 200-day moving average price is $7.67.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $179.01 million during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.08 earnings per share. As a group, equities research analysts expect 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.