Loomis Sayles & Co. L P Decreases Stock Holdings in Newpark Resources, Inc. (NYSE:NR)

Loomis Sayles & Co. L P reduced its position in shares of Newpark Resources, Inc. (NYSE:NR) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,204,405 shares of the oil and gas company’s stock after selling 51,566 shares during the period. Loomis Sayles & Co. L P owned about 1.39% of Newpark Resources worth $8,347,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dynamic Technology Lab Private Ltd purchased a new stake in Newpark Resources in the third quarter valued at $471,000. Fisher Asset Management LLC lifted its position in Newpark Resources by 6.6% in the third quarter. Fisher Asset Management LLC now owns 239,286 shares of the oil and gas company’s stock valued at $1,658,000 after acquiring an additional 14,802 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Newpark Resources by 125.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 764,873 shares of the oil and gas company’s stock valued at $5,301,000 after acquiring an additional 425,505 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Newpark Resources in the third quarter valued at $195,000. Finally, Northeast Financial Group Inc. purchased a new stake in Newpark Resources in the third quarter valued at $457,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

Newpark Resources Trading Up 1.5 %

NYSE NR opened at $8.30 on Thursday. 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 firm has a market cap of $717.52 million, a PE ratio of -4.53 and a beta of 2.87. Newpark Resources, Inc. has a one year low of $5.61 and a one year high of $8.65. The firm’s fifty day moving average is $7.16 and its two-hundred day moving average is $7.62.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on NR shares. StockNews.com cut shares of Newpark Resources from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.