Miles Capital Inc. increased its stake in shares of Newpark Resources Inc (NYSE:NR) by 9.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,557 shares of the oil and gas company’s stock after purchasing an additional 1,459 shares during the period. Miles Capital Inc.’s holdings in Newpark Resources were worth $123,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of NR. Laurion Capital Management LP purchased a new position in Newpark Resources in the 1st quarter valued at about $105,000. Magnus Financial Group LLC purchased a new position in Newpark Resources during the 2nd quarter worth $106,000. Capital Fund Management S.A. purchased a new position in Newpark Resources during the 2nd quarter worth $128,000. Campbell & CO Investment Adviser LLC purchased a new position in Newpark Resources during the 1st quarter worth $130,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Newpark Resources by 264.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 20,551 shares of the oil and gas company’s stock worth $188,000 after acquiring an additional 14,919 shares during the last quarter. Hedge funds and other institutional investors own 99.59% of the company’s stock.
NR has been the topic of a number of analyst reports. Raymond James set a $12.00 price objective on shares of Newpark Resources and gave the stock a “buy” rating in a report on Wednesday, July 3rd. ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Thursday. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $12.00.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $216.41 million for the quarter, compared to analysts’ expectations of $216.63 million. Newpark Resources had a return on equity of 5.10% and a net margin of 2.17%. Newpark Resources’s revenue was down 8.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.12 earnings per share. Sell-side analysts expect that Newpark Resources Inc will post 0.26 EPS for the current fiscal year.
Newpark Resources Profile
Newpark Resources, Inc provides products, rentals, and services primarily to the oil and natural gas exploration and production industry. It operates through two segments, Fluids Systems, and Mats and Integrated Services. The Fluids Systems segment offers drilling and completion fluids solutions, and technical services to customers in the North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific regions.
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