ProShare Advisors LLC Has $83,000 Stake in Newpark Resources, Inc. (NYSE:NR)

ProShare Advisors LLC decreased its holdings in shares of Newpark Resources, Inc. (NYSE:NR) by 25.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,028 shares of the oil and gas company’s stock after selling 3,424 shares during the quarter. ProShare Advisors LLC’s holdings in Newpark Resources were worth $83,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NR. Ancora Advisors LLC raised its position in shares of Newpark Resources by 182.5% during the first quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after purchasing an additional 418,570 shares during the period. GSA Capital Partners LLP purchased a new position in Newpark Resources during the 4th quarter valued at about $2,567,000. Russell Investments Group Ltd. grew its holdings in Newpark Resources by 210.2% during 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 buying an additional 349,935 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Newpark Resources by 19.9% during the 2nd quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock valued at $15,720,000 after acquiring an additional 313,451 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of Newpark Resources by 161.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock valued at $2,327,000 after acquiring an additional 199,066 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on NR. 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 target price on shares of Newpark Resources in a research note on Thursday, September 19th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Newpark Resources currently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Performance

NYSE NR opened at $7.13 on Tuesday. The stock has a market capitalization of $607.49 million, a PE ratio of 39.61 and a beta of 2.86. The business has a 50 day simple moving average of $7.55 and a two-hundred day simple moving average of $7.66. 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.

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

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.