Oppenheimer Asset Management Inc. Increases Stock Position in Newpark Resources, Inc. (NYSE:NR)

Oppenheimer Asset Management Inc. grew its position in Newpark Resources, Inc. (NYSE:NR) by 10.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,543 shares of the oil and gas company’s stock after purchasing an additional 2,730 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Newpark Resources were worth $205,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. bought a new position in shares of Newpark Resources in the third quarter valued at approximately $1,357,000. GSA Capital Partners LLP boosted its holdings in shares of Newpark Resources by 68.1% during the third quarter. GSA Capital Partners LLP now owns 17,618 shares of the oil and gas company’s stock worth $122,000 after purchasing an additional 7,140 shares during the period. Harbor Capital Advisors Inc. increased its position in shares of Newpark Resources by 439.5% during the third quarter. Harbor Capital Advisors Inc. now owns 349,136 shares of the oil and gas company’s stock valued at $2,420,000 after buying an additional 284,421 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Newpark Resources by 3.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 126,977 shares of the oil and gas company’s stock worth $880,000 after acquiring an additional 4,187 shares in the last quarter. Finally, Roubaix Capital LLC increased its holdings in shares of Newpark Resources by 6.3% during 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 acquiring an additional 36,802 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NR. StockNews.com cut Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reaffirmed a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Newpark Resources currently has an average rating of “Moderate Buy” and an average price target of $11.00.

Newpark Resources Stock Up 3.3 %

Shares of NYSE NR opened at $7.41 on Thursday. Newpark Resources, Inc. has a 12-month low of $5.61 and a 12-month high of $8.65. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $7.07 and a 200 day moving average of $7.60. The stock has a market cap of $640.51 million, a PE ratio of -3.92 and a beta of 2.87.

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.