ArrowMark Colorado Holdings LLC Sells 685,568 Shares of Newpark Resources, Inc. (NYSE:NR)

ArrowMark Colorado Holdings LLC trimmed its holdings in Newpark Resources, Inc. (NYSE:NR) by 20.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,670,954 shares of the oil and gas company’s stock after selling 685,568 shares during the period. ArrowMark Colorado Holdings LLC owned 3.09% of Newpark Resources worth $18,510,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its holdings 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 worth $5,301,000 after purchasing an additional 425,505 shares in the last quarter. Pennant Select LLC boosted its stake in shares of Newpark Resources by 65.0% during the 3rd quarter. Pennant Select LLC now owns 990,000 shares of the oil and gas company’s stock worth $6,861,000 after acquiring an additional 390,000 shares in the last quarter. American Century Companies Inc. boosted its stake 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 acquiring an additional 313,451 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in shares of Newpark Resources by 439.5% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 349,136 shares of the oil and gas company’s stock valued at $2,420,000 after acquiring an additional 284,421 shares in the last quarter. Finally, Victory Capital Management Inc. acquired a new stake in Newpark Resources in the 3rd quarter worth approximately $1,357,000. Institutional investors and hedge funds own 80.81% of the company’s stock.

Newpark Resources Stock Up 0.8 %

Shares of NR stock opened at $8.36 on Monday. Newpark Resources, Inc. has a 12 month low of $5.61 and a 12 month high of $8.65. The company has a quick ratio of 2.00, a current ratio of 2.29 and a debt-to-equity ratio of 0.02. The firm has a market cap of $723.11 million, a PE ratio of -4.57 and a beta of 2.87. The stock has a 50 day moving average of $7.19 and a 200-day moving average of $7.63.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. StockNews.com lowered 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 issued a $12.00 target price on shares of Newpark Resources in a research note 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.