Victory Capital Management Inc. Takes Position in Newpark Resources, Inc. (NYSE:NR)

Victory Capital Management Inc. purchased a new position in Newpark Resources, Inc. (NYSE:NR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 195,806 shares of the oil and gas company’s stock, valued at approximately $1,357,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NR. Jacobs Levy Equity Management Inc. raised its holdings in shares of Newpark Resources by 67.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 327,985 shares of the oil and gas company’s stock worth $2,368,000 after buying an additional 131,609 shares during the period. Harbor Capital Advisors Inc. bought a new stake in shares of Newpark Resources during the second quarter worth $538,000. Panagora Asset Management Inc. grew its holdings in shares of Newpark Resources by 44.2% in the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock worth $3,672,000 after purchasing an additional 135,427 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Newpark Resources by 15.1% in the second quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock worth $269,000 after purchasing an additional 4,255 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Newpark Resources in the 3rd quarter worth about $116,000. 80.81% of the stock is owned by hedge funds and other institutional investors.

Newpark Resources Trading Up 1.8 %

NYSE:NR opened at $8.06 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.00 and a current ratio of 2.29. The firm has a 50-day simple moving average of $7.11 and a 200-day simple moving average of $7.61. Newpark Resources, Inc. has a one year low of $5.61 and a one year high of $8.65. The firm has a market cap of $697.19 million, a P/E ratio of -4.40 and a beta of 2.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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 reissued a “buy” rating and issued a $12.00 price objective on shares of Newpark Resources in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.