TCW Group Inc. Grows Position in Newpark Resources Inc (NYSE:NR)

TCW Group Inc. increased its holdings in Newpark Resources Inc (NYSE:NR) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 555,304 shares of the oil and gas company’s stock after acquiring an additional 15,016 shares during the quarter. TCW Group Inc.’s holdings in Newpark Resources were worth $5,087,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Newpark Resources by 1.9% in the fourth quarter. BlackRock Inc. now owns 13,844,202 shares of the oil and gas company’s stock worth $95,110,000 after acquiring an additional 263,764 shares during the period. Victory Capital Management Inc. raised its holdings in Newpark Resources by 11.2% in the fourth quarter. Victory Capital Management Inc. now owns 6,292,409 shares of the oil and gas company’s stock worth $43,229,000 after purchasing an additional 634,766 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Newpark Resources by 8.8% in the fourth quarter. Bank of New York Mellon Corp now owns 3,366,755 shares of the oil and gas company’s stock worth $23,130,000 after purchasing an additional 270,920 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Newpark Resources by 6.9% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,290,690 shares of the oil and gas company’s stock worth $30,143,000 after purchasing an additional 212,325 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in Newpark Resources by 5.7% in the first quarter. Northern Trust Corp now owns 3,210,487 shares of the oil and gas company’s stock worth $29,409,000 after purchasing an additional 172,455 shares in the last quarter. 98.65% of the stock is owned by institutional investors.

In other news, insider Paul L. Howes sold 106,487 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $9.50, for a total transaction of $1,011,626.50. Following the transaction, the insider now owns 621,820 shares in the company, valued at $5,907,290. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Paul L. Howes sold 200,000 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $9.21, for a total transaction of $1,842,000.00. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company’s stock.

Newpark Resources stock traded down $0.29 during trading hours on Wednesday, reaching $6.61. The stock had a trading volume of 21,143 shares, compared to its average volume of 557,971. The company has a market capitalization of $642.59 million, a PE ratio of 16.11 and a beta of 1.50. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.81 and a current ratio of 4.45. Newpark Resources Inc has a 52 week low of $6.39 and a 52 week 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 (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.02). Newpark Resources had a net margin of 2.83% and a return on equity of 6.29%. The company had revenue of $211.50 million for the quarter, compared to analyst estimates of $224.17 million. During the same quarter last year, the company earned $0.08 EPS. The business’s revenue was down 7.0% compared to the same quarter last year. On average, equities analysts predict that Newpark Resources Inc will post 0.32 earnings per share for the current fiscal year.

A number of equities analysts have commented on the stock. SunTrust Banks set a $13.00 target price on shares of Newpark Resources and gave the stock a “buy” rating in a report on Monday, April 8th. TheStreet downgraded shares of Newpark Resources from a “b” rating to a “c+” rating in a report on Friday, April 26th. Finally, ValuEngine downgraded shares of Newpark Resources from a “hold” rating to a “sell” rating in a report on Friday, April 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. Newpark Resources presently has an average rating of “Hold” and an average price target of $12.00.

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Newpark Resources Profile

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.

Further Reading: Return On Assets

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Institutional Ownership by Quarter for Newpark Resources (NYSE:NR)

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