Buckingham Asset Management buys $923,248 stake in Newpark Resources Inc (NR)

Newpark Resources Inc (NR) : Buckingham Asset Management scooped up 18,888 additional shares in Newpark Resources Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 141,820 shares of Newpark Resources Inc which is valued at $923,248.Newpark Resources Inc makes up approximately 0.31% of Buckingham Asset Management’s portfolio.

Other Hedge Funds, Including , Monarch Partners Asset Management added NR to its portfolio by purchasing 38,700 company shares during the most recent quarter which is valued at $227,556. Newpark Resources Inc makes up approx 0.02% of Monarch Partners Asset Management’s portfolio.Strs Ohio reduced its stake in NR by selling 2,200 shares or 1.75% in the most recent quarter. The Hedge Fund company now holds 123,400 shares of NR which is valued at $725,592.

Newpark Resources Inc opened for trading at $6.89 and hit $7.28 on the upside on Monday, eventually ending the session at $6.96, with a gain of 0.43% or 0.03 points. The heightened volatility saw the trading volume jump to 7,35,469 shares. Company has a market cap of $588 M.

On the company’s financial health, Newpark Resources Inc reported $-0.06 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.15. The company had revenue of $115.30 million for the quarter, compared to analysts expectations of $105.51 million. The company’s revenue was down -29.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.03 EPS.

Many Wall Street Analysts have commented on Newpark Resources Inc. Newpark Resources Inc was Resumed by Credit Suisse to “Outperform” on Jul 18, 2016. Newpark Resources Inc was Upgraded by CapitalOne to ” Overweight” on Jun 15, 2016. Newpark Resources Inc was Upgraded by Credit Suisse to ” Outperform” on Jun 1, 2016.

Newpark Resources Inc. is an oil and gas supplier. The Company provides products and services to the oil and gas exploration (E&P) industry. The Company operates its business through two segments: Fluids Systems and Mats and Integrated Services. Fluids Systems segment provides drilling fluids solutions including technical drilling projects involving subsurface conditions such as horizontal directional geologically deep or deep water drilling to E&P customers in North America Europe the Middle East and Africa (EMEA) Latin America and Asia Pacific. The Mats and Integrated Services segment provides composite mat rentals well site construction and related site services to oil and gas customers at well production transportation and refinery locations in the United States. The Company manufactures DURA-BASE Advanced Composite Mats for use in its rental operations as well as for third-party sales.

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