Pennant Select LLC Has $6.86 Million Position in Newpark Resources, Inc. (NYSE:NR)

Pennant Select LLC grew its holdings in Newpark Resources, Inc. (NYSE:NR) by 65.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 990,000 shares of the oil and gas company’s stock after purchasing an additional 390,000 shares during the period. Newpark Resources comprises about 4.8% of Pennant Select LLC’s investment portfolio, making the stock its 9th biggest holding. Pennant Select LLC’s holdings in Newpark Resources were worth $6,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 425,505 shares during the period. American Century Companies Inc. grew its holdings in shares of 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 acquiring an additional 313,451 shares during the period. Harbor Capital Advisors Inc. grew its holdings in shares of Newpark Resources by 439.5% in the third quarter. Harbor Capital Advisors Inc. now owns 349,136 shares of the oil and gas company’s stock worth $2,420,000 after acquiring an additional 284,421 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Newpark Resources in the third quarter worth $1,357,000. Finally, 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 acquiring an additional 135,427 shares during the period. Institutional investors own 80.81% of the company’s stock.

Newpark Resources Price Performance

NYSE:NR opened at $8.29 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.00 and a debt-to-equity ratio of 0.02. Newpark Resources, Inc. has a 12 month low of $5.61 and a 12 month high of $8.65. The business’s 50-day moving average is $7.17 and its 200 day moving average is $7.62.

Analyst Upgrades and Downgrades

Several brokerages recently commented on NR. StockNews.com lowered Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $12.00 price target on shares of Newpark Resources in a report on Monday, November 11th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Newpark Resources currently has an average rating of “Moderate Buy” and a consensus target price of $11.00.

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.