Zurcher Kantonalbank Zurich Cantonalbank Takes Position in Newpark Resources, Inc. (NYSE:NR)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Newpark Resources, Inc. (NYSE:NR) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 15,848 shares of the oil and gas company’s stock, valued at approximately $105,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new position in shares of Newpark Resources in the fourth quarter worth $101,000. Cornercap Investment Counsel Inc. acquired a new position in shares of Newpark Resources in the 4th quarter valued at approximately $460,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Newpark Resources by 29.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,682 shares of the oil and gas company’s stock worth $224,000 after acquiring an additional 7,681 shares during the period. Arizona State Retirement System acquired a new stake in shares of Newpark Resources during the 4th quarter worth approximately $153,000. Finally, Ritholtz Wealth Management bought a new position in Newpark Resources in the fourth quarter valued at approximately $450,000. 80.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. Roth Mkm initiated coverage on Newpark Resources in a research report on Friday, March 8th. They issued a “buy” rating and a $10.00 target price on the stock. B. Riley increased their target price on shares of Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Monday. Roth Capital reaffirmed a “buy” rating on shares of Newpark Resources in a report on Friday, March 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.00.

Newpark Resources Stock Performance

Newpark Resources stock opened at $7.65 on Friday. The business has a 50 day moving average of $7.23 and a 200-day moving average of $6.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. Newpark Resources, Inc. has a 1 year low of $3.40 and a 1 year high of $7.84. The company has a market capitalization of $651.35 million, a P/E ratio of 42.47 and a beta of 2.78.

Newpark Resources (NYSE:NR) last released its quarterly earnings results on Wednesday, February 21st. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $167.82 million for the quarter, compared to the consensus estimate of $170.87 million. Newpark Resources had a net margin of 2.25% and a return on equity of 6.67%. On average, equities research analysts predict that Newpark Resources, Inc. will post 0.3 earnings per share for the current year.

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.