Newpark Resources, Inc. (NYSE:NR) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P trimmed its position in shares of Newpark Resources, Inc. (NYSE:NR) by 4.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,204,405 shares of the oil and gas company’s stock after selling 51,566 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Newpark Resources were worth $8,347,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Oppenheimer Asset Management Inc. grew its position in Newpark Resources by 10.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company’s stock worth $205,000 after buying an additional 2,730 shares during the period. Jacobs Levy Equity Management Inc. grew its position in Newpark Resources by 67.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock worth $2,368,000 after buying an additional 131,609 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in shares of Newpark Resources in the second quarter valued at about $538,000. Panagora Asset Management Inc. lifted its holdings in shares of Newpark Resources by 44.2% in the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock valued at $3,672,000 after purchasing an additional 135,427 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Newpark Resources by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after purchasing an additional 4,255 shares in the last quarter. 80.81% of the stock is currently owned by institutional investors and hedge funds.

Newpark Resources Stock Performance

Shares of NR stock opened at $8.30 on Thursday. Newpark Resources, Inc. has a one year low of $5.61 and a one year high of $8.65. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The company has a 50 day moving average price of $7.16 and a 200 day moving average price of $7.62. The firm has a market capitalization of $717.52 million, a price-to-earnings ratio of -4.53 and a beta of 2.87.

Analysts Set New Price Targets

NR has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. StockNews.com downgraded shares of Newpark Resources from a “buy” rating to a “hold” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Newpark Resources has an average rating of “Moderate Buy” and a consensus target price of $11.00.

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.