Newpark Resources Inc (NR) Stake Raised by Bank of Montreal Can

Bank of Montreal Can lifted its position in Newpark Resources Inc (NYSE:NR) by 24.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,482 shares of the oil and gas company’s stock after buying an additional 66,835 shares during the quarter. Bank of Montreal Can owned approximately 0.37% of Newpark Resources worth $3,482,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NR. Victory Capital Management Inc. increased its position in shares of Newpark Resources by 1,773.4% in the second quarter. Victory Capital Management Inc. now owns 3,618,405 shares of the oil and gas company’s stock worth $39,259,000 after purchasing an additional 3,425,260 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new position in shares of Newpark Resources in the second quarter worth approximately $21,674,000. BlackRock Inc. increased its position in shares of Newpark Resources by 8.3% in the second quarter. BlackRock Inc. now owns 12,904,410 shares of the oil and gas company’s stock worth $140,013,000 after purchasing an additional 987,281 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Newpark Resources by 15.9% in the second quarter. Wells Fargo & Company MN now owns 1,561,381 shares of the oil and gas company’s stock worth $16,941,000 after purchasing an additional 214,495 shares during the last quarter. Finally, Federated Investors Inc. PA increased its position in shares of Newpark Resources by 304.0% in the second quarter. Federated Investors Inc. PA now owns 271,565 shares of the oil and gas company’s stock worth $2,946,000 after purchasing an additional 204,341 shares during the last quarter. 99.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE NR opened at $8.23 on Monday. Newpark Resources Inc has a one year low of $7.27 and a one year high of $11.65. 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 company has a market cap of $747.35 million, a price-to-earnings ratio of 24.21 and a beta of 1.59.

Newpark Resources (NYSE:NR) last issued its quarterly earnings results on Thursday, October 25th. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.06). Newpark Resources had a net margin of 1.36% and a return on equity of 5.56%. The business had revenue of $235.33 million for the quarter, compared to the consensus estimate of $237.08 million. As a group, sell-side analysts predict that Newpark Resources Inc will post 0.4 EPS for the current fiscal year.

Several research firms recently weighed in on NR. ValuEngine cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Wednesday, October 17th. Zacks Investment Research upgraded shares of Newpark Resources from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Friday, September 28th. Credit Suisse Group upped their price objective on shares of Newpark Resources from $11.00 to $12.00 and gave the stock an “outperform” rating in a research report on Monday, July 30th. Finally, TheStreet cut shares of Newpark Resources from a “b-” rating to a “c+” rating in a research report on Monday, October 29th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $11.00.

Newpark Resources Company 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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