Calamos Advisors LLC Takes Position in Newpark Resources, Inc. (NYSE:NR)

Calamos Advisors LLC purchased a new stake in shares of Newpark Resources, Inc. (NYSE:NR) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 11,550 shares of the oil and gas company’s stock, valued at approximately $77,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dorsey Wright & Associates bought a new position in shares of Newpark Resources in the third quarter worth approximately $32,000. Principal Financial Group Inc. bought a new position in Newpark Resources during the third quarter valued at approximately $78,000. Legato Capital Management LLC bought a new position in Newpark Resources during the fourth quarter valued at approximately $96,000. Mackenzie Financial Corp bought a new position in Newpark Resources during the fourth quarter valued at approximately $101,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Newpark Resources during the fourth quarter valued at approximately $105,000. 80.81% of the stock is currently owned by institutional investors.

Newpark Resources Price Performance

Shares of NR stock opened at $7.30 on Tuesday. Newpark Resources, Inc. has a twelve month low of $3.40 and a twelve month high of $7.84. The stock has a market capitalization of $621.96 million, a price-to-earnings ratio of 45.63 and a beta of 2.75. The stock has a fifty day simple moving average of $6.99 and a two-hundred day simple moving average of $6.84. The company has a current ratio of 2.62, a quick ratio of 1.59 and a debt-to-equity ratio of 0.14.

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

Wall Street Analyst Weigh In

NR has been the subject of a number of analyst reports. Roth Capital reissued a “buy” rating on shares of Newpark Resources in a research note on Friday, March 8th. B. Riley initiated coverage on Newpark Resources in a report on Tuesday, April 9th. They issued a “buy” rating and a $10.00 price objective for the company. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a report on Friday, February 23rd. TheStreet cut Newpark Resources from a “b-” rating to a “c+” rating in a research report on Thursday, January 4th. Finally, Roth Mkm began coverage on Newpark Resources in a research report on Friday, March 8th. They set a “buy” rating and a $10.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.75.

About Newpark Resources

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.