Principal Financial Group Inc. Sells 6,991 Shares of Newpark Resources, Inc. (NYSE:NR)

Principal Financial Group Inc. trimmed its position in shares of Newpark Resources, Inc. (NYSE:NR) by 18.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,357 shares of the oil and gas company’s stock after selling 6,991 shares during the quarter. Principal Financial Group Inc.’s holdings in Newpark Resources were worth $210,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in Newpark Resources by 67.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock worth $2,368,000 after purchasing an additional 131,609 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Newpark Resources during the second quarter worth about $538,000. Panagora Asset Management Inc. increased its holdings in shares of Newpark Resources by 44.2% in the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock worth $3,672,000 after acquiring an additional 135,427 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Newpark Resources by 15.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock worth $269,000 after purchasing an additional 4,255 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of Newpark Resources during the third quarter worth $116,000. 80.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on NR. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reiterated a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a report 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. Based on data from MarketBeat.com, Newpark Resources presently has a consensus rating of “Moderate Buy” and an average target price of $11.00.

Newpark Resources Stock Performance

NR opened at $8.06 on Tuesday. Newpark Resources, Inc. has a 1 year low of $5.61 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.29 and a quick ratio of 2.00. The company has a market capitalization of $697.19 million, a PE ratio of -4.33 and a beta of 2.87. The business has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $7.61.

Newpark Resources 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.