Charles Schwab Investment Management Inc. Acquires 425,505 Shares of Newpark Resources, Inc. (NYSE:NR)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Newpark Resources, Inc. (NYSE:NR) by 125.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 764,873 shares of the oil and gas company’s stock after purchasing an additional 425,505 shares during the period. Charles Schwab Investment Management Inc. owned 0.88% of Newpark Resources worth $5,301,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its stake in shares of Newpark Resources by 10.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 34,521 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 3,232 shares during the last quarter. CWM LLC raised its stake in shares of Newpark Resources by 114.5% in the second quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 5,193 shares during the last quarter. Riverwater Partners LLC raised its stake in shares of Newpark Resources by 5.0% in the second quarter. Riverwater Partners LLC now owns 79,028 shares of the oil and gas company’s stock worth $657,000 after purchasing an additional 3,774 shares during the last quarter. Catalina Capital Group LLC raised its stake in shares of Newpark Resources by 10.6% in the second quarter. Catalina Capital Group LLC now owns 14,241 shares of the oil and gas company’s stock worth $118,000 after purchasing an additional 1,360 shares during the last quarter. Finally, Calamos Advisors LLC purchased a new stake in shares of Newpark Resources in the second quarter worth approximately $1,046,000. Institutional investors own 80.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Newpark Resources currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Stock Performance

Newpark Resources stock opened at $7.94 on Friday. The stock’s 50 day simple moving average is $7.37 and its two-hundred day simple moving average is $7.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The stock has a market cap of $686.79 million, a price-to-earnings ratio of -4.34 and a beta of 2.92. Newpark Resources, Inc. has a fifty-two week low of $5.61 and a fifty-two week high of $8.65.

About Newpark Resources

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.