Northeast Financial Group Inc. Purchases Shares of 65,902 Newpark Resources, Inc. (NYSE:NR)

Northeast Financial Group Inc. purchased a new stake in Newpark Resources, Inc. (NYSE:NR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 65,902 shares of the oil and gas company’s stock, valued at approximately $457,000. Northeast Financial Group Inc. owned 0.08% of Newpark Resources at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Ancora Advisors LLC lifted its holdings in shares of Newpark Resources by 182.5% during the 1st quarter. Ancora Advisors LLC now owns 647,930 shares of the oil and gas company’s stock worth $4,678,000 after acquiring an additional 418,570 shares during the period. Russell Investments Group Ltd. increased its position in shares of Newpark Resources by 210.2% during the 1st quarter. Russell Investments Group Ltd. now owns 516,427 shares of the oil and gas company’s stock worth $3,729,000 after purchasing an additional 349,935 shares in the last quarter. American Century Companies Inc. increased its position in shares of Newpark Resources by 19.9% during the 2nd 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 in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Newpark Resources by 439.5% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 349,136 shares of the oil and gas company’s stock worth $2,420,000 after purchasing an additional 284,421 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Newpark Resources by 161.5% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 322,326 shares of the oil and gas company’s stock worth $2,327,000 after purchasing an additional 199,066 shares in the last quarter. 80.81% of the stock is owned by institutional investors.

Newpark Resources Trading Down 1.8 %

NR opened at $6.99 on Friday. The firm has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $7.59. The stock has a market capitalization of $604.64 million, a PE ratio of -3.82 and a beta of 2.87. Newpark Resources, Inc. has a 1-year low of $5.61 and a 1-year high of $8.65. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NR. 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 reiterated a “buy” rating and set a $12.00 target price on shares of Newpark Resources in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

About Newpark Resources

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.