Algert Global LLC Has $241,000 Stake in Newpark Resources, Inc. (NYSE:NR)

Algert Global LLC lowered its stake in shares of Newpark Resources, Inc. (NYSE:NR) by 84.8% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 28,942 shares of the oil and gas company’s stock after selling 161,418 shares during the period. Algert Global LLC’s holdings in Newpark Resources were worth $241,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. CWM LLC lifted its position in Newpark Resources by 495.4% in the first quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 3,775 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Newpark Resources by 179.1% during the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after acquiring an additional 4,751 shares during the period. Perigon Wealth Management LLC acquired a new stake in shares of Newpark Resources during the 1st quarter valued at about $73,000. Ground Swell Capital LLC bought a new stake in Newpark Resources in the second quarter valued at about $91,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in Newpark Resources in the first quarter worth about $86,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. 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 downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Trading Up 1.4 %

Shares of NR opened at $7.08 on Thursday. The stock’s fifty day simple moving average is $7.53 and its 200-day simple moving average is $7.66. 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 $603.23 million, a PE ratio of 39.33 and a beta of 2.86. Newpark Resources, Inc. has a 12-month low of $5.61 and a 12-month high of $8.65.

Newpark Resources (NYSE:NR) last released its earnings results on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. The firm had revenue of $179.01 million during the quarter, compared to analyst estimates of $171.04 million. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, research analysts predict that Newpark Resources, Inc. will post 0.36 earnings per share for the current 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.