Caxton Associates LP Trims Holdings in Newpark Resources, Inc. (NYSE:NR)

Caxton Associates LP trimmed its position in Newpark Resources, Inc. (NYSE:NR) by 57.8% in the 1st quarter, HoldingsChannel reports. The fund owned 52,095 shares of the oil and gas company’s stock after selling 71,385 shares during the quarter. Caxton Associates LP’s holdings in Newpark Resources were worth $376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NR. CWM LLC increased its holdings in Newpark Resources by 495.4% in the 1st quarter. CWM LLC now owns 4,537 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 3,775 shares in the last quarter. GAMMA Investing LLC bought a new position in Newpark Resources in the 4th quarter worth approximately $49,000. New York State Teachers Retirement System bought a new position in Newpark Resources in the 1st quarter worth approximately $50,000. Fortitude Family Office LLC boosted its stake in Newpark Resources by 179.1% in the 1st quarter. Fortitude Family Office LLC now owns 7,404 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 4,751 shares during the period. Finally, National Bank of Canada FI bought a new position in Newpark Resources in the 4th quarter worth approximately $59,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NR has been the subject of several recent analyst reports. StockNews.com upgraded Newpark Resources from a “hold” rating to a “buy” rating in a research note on Friday, May 3rd. B. Riley upped their price target on Newpark Resources from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research note on Monday, May 6th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.00.

Newpark Resources Price Performance

Shares of NYSE NR traded up $0.04 during midday trading on Tuesday, reaching $8.13. 117,809 shares of the stock traded hands, compared to its average volume of 656,978. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.79 and a quick ratio of 1.74. The stock has a market capitalization of $692.68 million, a PE ratio of 45.00 and a beta of 2.89. Newpark Resources, Inc. has a one year low of $4.99 and a one year high of $8.65. The company’s 50 day moving average is $8.00 and its 200 day moving average is $7.28.

Newpark Resources (NYSE:NR) last posted its earnings results on Thursday, May 2nd. The oil and gas company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $169.11 million during the quarter, compared to the consensus estimate of $170.69 million. Newpark Resources had a return on equity of 6.67% and a net margin of 2.25%. On average, equities research analysts anticipate that Newpark Resources, Inc. will post 0.35 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.