69,287 Shares in Newpark Resources, Inc. (NYSE:NR) Bought by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. purchased a new position in shares of Newpark Resources, Inc. (NYSE:NR) during the 4th quarter, Holdings Channel.com reports. The fund purchased 69,287 shares of the oil and gas company’s stock, valued at approximately $460,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dorsey Wright & Associates acquired a new position in Newpark Resources during the 3rd quarter worth $32,000. UBS Group AG grew its holdings in Newpark Resources by 374.4% during the 3rd quarter. UBS Group AG now owns 13,410 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 10,583 shares in the last quarter. Captrust Financial Advisors grew its holdings in Newpark Resources by 252.0% during the 1st quarter. Captrust Financial Advisors now owns 10,288 shares of the oil and gas company’s stock worth $38,000 after acquiring an additional 7,365 shares in the last quarter. Advisory Services Network LLC acquired a new position in Newpark Resources during the 1st quarter worth $41,000. Finally, Royal Bank of Canada grew its holdings in Newpark Resources by 66.8% during the 2nd quarter. Royal Bank of Canada now owns 8,051 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 3,224 shares in the last quarter. Hedge funds and other institutional investors own 80.81% of the company’s stock.

Newpark Resources Trading Down 2.0 %

Newpark Resources stock opened at $7.30 on Thursday. The company has a quick ratio of 1.59, a current ratio of 2.62 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $6.92 and a two-hundred day moving average price of $6.83. The firm has a market capitalization of $621.96 million, a price-to-earnings ratio of 45.63 and a beta of 2.75. Newpark Resources, Inc. has a 52-week low of $3.40 and a 52-week high of $7.84.

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

Analysts Set New Price Targets

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

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.