Federated Hermes Inc. Reduces Stock Position in Newpark Resources, Inc. (NYSE:NR)

Federated Hermes Inc. lessened its position in shares of Newpark Resources, Inc. (NYSE:NR) by 33.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 33,057 shares of the oil and gas company’s stock after selling 16,887 shares during the quarter. Federated Hermes Inc.’s holdings in Newpark Resources were worth $219,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Dorsey Wright & Associates acquired a new position in shares of Newpark Resources in the 3rd quarter valued at about $32,000. Principal Financial Group Inc. acquired a new position in shares of Newpark Resources in the 3rd quarter valued at about $78,000. Legato Capital Management LLC acquired a new position in shares of Newpark Resources in the 4th quarter valued at about $96,000. Mackenzie Financial Corp acquired a new position in shares of Newpark Resources in the 4th quarter valued at about $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Newpark Resources in the 4th quarter valued at about $105,000. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Price Performance

NYSE:NR opened at $7.10 on Monday. Newpark Resources, Inc. has a 12 month low of $3.40 and a 12 month high of $7.84. The stock has a 50 day moving average of $7.15 and a two-hundred day moving average of $6.86. The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14. The firm has a market cap of $604.93 million, a P/E ratio of 39.44 and a beta of 2.78.

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 the consensus estimate of $0.07 by ($0.03). Newpark Resources had a return on equity of 6.70% and a net margin of 2.25%. The firm had revenue of $167.82 million for the quarter, compared to analysts’ expectations of $170.87 million. On average, analysts expect that Newpark Resources, Inc. will post 0.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Capital reissued a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. B. Riley began coverage on Newpark Resources in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.00 price target for the company. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a report on Friday. Finally, Roth Mkm began coverage on Newpark Resources in a report on Friday, March 8th. They issued a “buy” rating and a $10.00 price target for the company. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.75.

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.