Newpark Resources (NYSE:NR) Trading 7.9% Higher

Newpark Resources Inc (NYSE:NR) shares traded up 7.9% during mid-day trading on Wednesday . The company traded as high as $4.53 and last traded at $4.49, 1,197,700 shares changed hands during mid-day trading. An increase of 34% from the average session volume of 896,778 shares. The stock had previously closed at $4.16.

A number of equities analysts have issued reports on the company. Raymond James set a $9.00 target price on Newpark Resources and gave the stock a “buy” rating in a report on Friday, November 1st. Zacks Investment Research raised Newpark Resources from a “sell” rating to a “hold” rating in a research note on Friday. Finally, TheStreet cut Newpark Resources from a “c” rating to a “d+” rating in a research note on Friday, February 7th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Newpark Resources has an average rating of “Buy” and an average target price of $10.17.

The company has a market cap of $385.77 million, a price-to-earnings ratio of -28.20 and a beta of 1.55. The firm has a 50 day moving average price of $5.37 and a two-hundred day moving average price of $6.41. The company has a quick ratio of 2.19, a current ratio of 3.72 and a debt-to-equity ratio of 0.33.

In related news, CEO Paul L. Howes purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was bought at an average price of $5.84 per share, with a total value of $87,600.00. Following the completion of the purchase, the chief executive officer now owns 855,354 shares in the company, valued at approximately $4,995,267.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Douglas L. White sold 6,145 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $6.07, for a total value of $37,300.15. Following the sale, the chief accounting officer now directly owns 47,580 shares of the company’s stock, valued at approximately $288,810.60. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. grew its holdings in Newpark Resources by 64.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 82,749 shares of the oil and gas company’s stock valued at $614,000 after buying an additional 32,528 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Newpark Resources in the 2nd quarter valued at $3,958,000. State of Alaska Department of Revenue grew its holdings in Newpark Resources by 124.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 69,185 shares of the oil and gas company’s stock valued at $527,000 after buying an additional 38,374 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Newpark Resources by 17.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 57,759 shares of the oil and gas company’s stock valued at $440,000 after buying an additional 8,446 shares in the last quarter. Finally, Boston Trust Walden Corp grew its holdings in Newpark Resources by 1.9% in the 3rd quarter. Boston Trust Walden Corp now owns 1,063,014 shares of the oil and gas company’s stock valued at $8,101,000 after buying an additional 20,104 shares in the last quarter. 99.95% of the stock is owned by institutional investors and hedge funds.

About Newpark Resources (NYSE:NR)

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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