Harbor Capital Advisors Inc. Acquires 284,421 Shares of Newpark Resources, Inc. (NYSE:NR)

Harbor Capital Advisors Inc. boosted its stake in Newpark Resources, Inc. (NYSE:NR) by 439.5% in the third quarter, HoldingsChannel reports. The firm owned 349,136 shares of the oil and gas company’s stock after acquiring an additional 284,421 shares during the period. Harbor Capital Advisors Inc.’s holdings in Newpark Resources were worth $2,420,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NR. CWM LLC raised its position in shares of Newpark Resources by 114.5% in the 2nd quarter. CWM LLC now owns 9,730 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 5,193 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Newpark Resources in the 1st quarter valued at $86,000. Ground Swell Capital LLC bought a new stake in shares of Newpark Resources in the 2nd quarter valued at $91,000. Catalina Capital Group LLC acquired a new stake in Newpark Resources during the 1st quarter worth $93,000. Finally, SG Americas Securities LLC bought a new position in Newpark Resources during the third quarter worth about $116,000. Institutional investors own 80.81% of the company’s stock.

Wall Street Analyst Weigh In

NR has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a report on Thursday, September 19th. StockNews.com lowered shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Trading Up 0.8 %

Newpark Resources stock opened at $6.57 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61. Newpark Resources, Inc. has a 52 week low of $5.61 and a 52 week high of $8.65. The stock has a 50-day simple moving average of $7.20 and a 200 day simple moving average of $7.59. The stock has a market capitalization of $568.11 million, a P/E ratio of 26.28 and a beta of 2.87.

Newpark Resources (NYSE:NR) last released its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $179.01 million for the quarter, compared to the consensus estimate of $171.04 million. Newpark Resources had a net margin of 3.15% and a return on equity of 7.49%. During the same period in the previous year, the company earned $0.08 earnings per share. Analysts expect that Newpark Resources, Inc. will post 0.32 earnings per share for the current year.

Newpark Resources Company Profile

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.