Monarch Partners Asset Management LLC Acquires 289,635 Shares of Newpark Resources Inc (NR)
Monarch Partners Asset Management LLC raised its holdings in Newpark Resources Inc (NYSE:NR) by 65.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 733,398 shares of the oil and gas company’s stock after acquiring an additional 289,635 shares during the period. Monarch Partners Asset Management LLC’s holdings in Newpark Resources were worth $6,718,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Advisor Group Inc. raised its holdings in Newpark Resources by 233.0% in the 4th quarter. Advisor Group Inc. now owns 4,182 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 2,926 shares during the last quarter. Oregon Public Employees Retirement Fund purchased a new stake in shares of Newpark Resources in the 4th quarter valued at approximately $35,000. Laurion Capital Management LP purchased a new stake in shares of Newpark Resources in the 1st quarter valued at approximately $105,000. Menta Capital LLC purchased a new stake in shares of Newpark Resources in the 4th quarter valued at approximately $107,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Newpark Resources by 264.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 20,551 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 14,919 shares during the period. Institutional investors own 98.65% of the company’s stock.
Several analysts have recently weighed in on NR shares. TheStreet raised shares of Newpark Resources from a “c” rating to a “b” rating in a research note on Friday, February 8th. Zacks Investment Research raised shares of Newpark Resources from a “sell” rating to a “hold” rating in a research note on Saturday, February 9th. ValuEngine cut shares of Newpark Resources from a “hold” rating to a “sell” rating in a research note on Friday, April 26th. Finally, SunTrust Banks set a $13.00 price target on shares of Newpark Resources and gave the company a “buy” rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.00.
Shares of NYSE:NR traded down $0.02 during mid-day trading on Friday, reaching $7.34. 2,814 shares of the company were exchanged, compared to its average volume of 577,890. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.81 and a current ratio of 4.45. The stock has a market capitalization of $687.84 million, a P/E ratio of 17.90 and a beta of 1.57. Newpark Resources Inc has a 1 year low of $6.39 and a 1 year high of $11.65.
Newpark Resources (NYSE:NR) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). The company had revenue of $211.50 million for the quarter, compared to analysts’ expectations of $224.17 million. Newpark Resources had a return on equity of 6.29% and a net margin of 2.83%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.08 EPS. Research analysts forecast that Newpark Resources Inc will post 0.32 earnings per share for the current fiscal year.
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About Newpark Resources
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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