Newpark Resources, Inc. (NYSE:NR) Position Reduced by Tieton Capital Management LLC

Tieton Capital Management LLC reduced its stake in Newpark Resources, Inc. (NYSE:NR) by 1.2% in the second quarter, Holdings Channel.com reports. The fund owned 826,545 shares of the oil and gas company’s stock after selling 10,460 shares during the period. Newpark Resources makes up approximately 3.8% of Tieton Capital Management LLC’s portfolio, making the stock its 8th biggest position. Tieton Capital Management LLC’s holdings in Newpark Resources were worth $6,869,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in Newpark Resources by 2.5% in the second quarter. Renaissance Technologies LLC now owns 653,000 shares of the oil and gas company’s stock worth $5,426,000 after acquiring an additional 15,859 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Newpark Resources by 125.7% in the second quarter. Oppenheimer Asset Management Inc. now owns 26,813 shares of the oil and gas company’s stock worth $223,000 after buying an additional 14,931 shares during the period. American Century Companies Inc. grew its stake in Newpark Resources by 19.9% in the second quarter. American Century Companies Inc. now owns 1,891,740 shares of the oil and gas company’s stock worth $15,720,000 after purchasing an additional 313,451 shares during the period. Ground Swell Capital LLC purchased a new stake in Newpark Resources in the second quarter worth about $91,000. Finally, ClariVest Asset Management LLC increased its stake in shares of Newpark Resources by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 166,141 shares of the oil and gas company’s stock valued at $1,381,000 after purchasing an additional 4,645 shares in the last quarter. Institutional investors own 80.81% of the company’s stock.

Newpark Resources Price Performance

NYSE NR opened at $7.34 on Tuesday. The stock has a 50-day moving average of $7.79 and a 200 day moving average of $7.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.61 and a current ratio of 2.61. The company has a market capitalization of $625.38 million, a price-to-earnings ratio of 40.78 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.

Newpark Resources (NYSE:NR) last issued its quarterly earnings data on Monday, August 5th. The oil and gas company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. Newpark Resources had a return on equity of 7.49% and a net margin of 3.15%. The company had revenue of $179.01 million during the quarter, compared to analyst estimates of $171.04 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. On average, sell-side analysts forecast that Newpark Resources, Inc. will post 0.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NR shares. HC Wainwright reissued a “buy” rating and issued a $12.00 price target on shares of Newpark Resources in a research report on Wednesday, August 7th. StockNews.com raised Newpark Resources from a “hold” rating to a “buy” rating in a research note on Sunday. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $11.00.

Newpark Resources 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.