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

ArrowMark Colorado Holdings LLC lowered its holdings in Newpark Resources, Inc. (NYSE:NR) by 20.4% during the third quarter, HoldingsChannel.com reports. The fund 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’s holdings in Newpark Resources were worth $18,510,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NR. Oppenheimer Asset Management Inc. grew its stake in shares of Newpark Resources by 10.2% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 29,543 shares of the oil and gas company’s stock valued at $205,000 after purchasing an additional 2,730 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Newpark Resources in the second quarter valued at $538,000. Victory Capital Management Inc. acquired a new position in Newpark Resources during the third quarter worth $1,357,000. Panagora Asset Management Inc. lifted its holdings in shares of Newpark Resources by 44.2% during the second quarter. Panagora Asset Management Inc. now owns 441,869 shares of the oil and gas company’s stock valued at $3,672,000 after acquiring an additional 135,427 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Newpark Resources by 15.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,423 shares of the oil and gas company’s stock valued at $269,000 after purchasing an additional 4,255 shares in the last quarter. Institutional investors and hedge funds own 80.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on NR shares. 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. StockNews.com downgraded Newpark Resources from a “buy” rating to a “hold” rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.00.

Newpark Resources Trading Up 0.8 %

NYSE:NR opened at $8.36 on Monday. The business has a 50 day moving average price of $7.19 and a two-hundred day moving average price of $7.63. 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 company has a market cap of $723.11 million, a P/E ratio of -4.57 and a beta of 2.87. Newpark Resources, Inc. has a twelve month low of $5.61 and a twelve month high of $8.65.

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.