Arizona State Retirement System Makes New $153,000 Investment in Newpark Resources, Inc. (NYSE:NR)

Arizona State Retirement System acquired a new stake in Newpark Resources, Inc. (NYSE:NR) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 23,055 shares of the oil and gas company’s stock, valued at approximately $153,000.

A number of other institutional investors have also recently modified their holdings of the stock. Kure Advisory LLC boosted its holdings in shares of Newpark Resources by 20.0% in the 4th quarter. Kure Advisory LLC now owns 20,204 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 3,363 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Newpark Resources by 1.3% in the third quarter. Bank of New York Mellon Corp now owns 317,935 shares of the oil and gas company’s stock valued at $2,197,000 after buying an additional 4,105 shares in the last quarter. Dorsey Wright & Associates bought a new position in Newpark Resources in the third quarter valued at about $32,000. Jump Financial LLC raised its stake in Newpark Resources by 25.9% during the third quarter. Jump Financial LLC now owns 41,800 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 8,589 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Newpark Resources by 25.6% in the third quarter. Federated Hermes Inc. now owns 49,944 shares of the oil and gas company’s stock worth $345,000 after acquiring an additional 10,195 shares during the last quarter. 80.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on NR. TheStreet downgraded shares of Newpark Resources from a “b-” rating to a “c+” rating in a research note on Thursday, January 4th. Roth Mkm started coverage on Newpark Resources in a report on Friday, March 8th. They set a “buy” rating and a $10.00 price objective on the stock. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. Finally, B. Riley started coverage on Newpark Resources in a research note on Tuesday, April 9th. They issued a “buy” rating and a $10.00 price objective for the company. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.75.

Newpark Resources Stock Down 1.2 %

Shares of NR opened at $7.30 on Tuesday. The stock’s 50-day moving average price is $6.99 and its two-hundred day moving average price is $6.84. Newpark Resources, Inc. has a 12 month low of $3.40 and a 12 month high of $7.84. The company has a market capitalization of $621.96 million, a PE ratio of 45.63 and a beta of 2.75. The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14.

Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Wednesday, February 21st. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $167.82 million during the quarter, compared to analyst estimates of $170.87 million. Newpark Resources had a return on equity of 6.53% and a net margin of 1.94%. On average, analysts anticipate that Newpark Resources, Inc. will post 0.3 EPS for the current 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.