LSV Asset Management Sells 446,719 Shares of Newpark Resources Inc (NR)

LSV Asset Management lessened its position in shares of Newpark Resources Inc (NYSE:NR) by 35.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 820,774 shares of the oil and gas company’s stock after selling 446,719 shares during the quarter. LSV Asset Management’s holdings in Newpark Resources were worth $8,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. New Amsterdam Partners LLC NY acquired a new stake in Newpark Resources in the 2nd quarter valued at $153,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new stake in Newpark Resources in the 2nd quarter valued at $173,000. Pillar Pacific Capital Management LLC acquired a new stake in Newpark Resources in the 2nd quarter valued at $195,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Newpark Resources in the 2nd quarter valued at $205,000. Finally, Advisors Asset Management Inc. boosted its stake in Newpark Resources by 702.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 172,884 shares of the oil and gas company’s stock valued at $304,000 after buying an additional 151,329 shares in the last quarter.

Shares of NR stock opened at $7.89 on Friday. The company has a current ratio of 3.70, a quick ratio of 2.31 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $716.47 million, a P/E ratio of 78.90 and a beta of 1.59. Newpark Resources Inc has a one year low of $7.27 and a one year high of $11.65.

Newpark Resources (NYSE:NR) last announced its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.06). Newpark Resources had a net margin of 1.36% and a return on equity of 5.56%. The company had revenue of $235.33 million during the quarter, compared to analyst estimates of $237.08 million. Research analysts expect that Newpark Resources Inc will post 0.38 earnings per share for the current fiscal year.

Several analysts recently commented on the company. TheStreet lowered Newpark Resources from a “b-” rating to a “c+” rating in a research note on Monday, October 29th. ValuEngine lowered Newpark Resources from a “hold” rating to a “sell” rating in a research note on Monday, October 29th. Zacks Investment Research lowered Newpark Resources from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Finally, Credit Suisse Group boosted their price target on Newpark Resources from $11.00 to $12.00 and gave the company an “outperform” rating in a research note on Monday, July 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Newpark Resources presently has an average rating of “Hold” and a consensus target price of $11.00.

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Newpark Resources Profile

Newpark Resources, Inc provides products, rentals, and services primarily to the oil and gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment provides drilling fluids products and technical services to customers in the North America, Europe, the Middle East and Africa, Latin America, and the Asia Pacific regions.

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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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