As Weatherford Intl Plc (WFT) Share Price Declined, Covalent Partners Decreased by $4.29 Million Its Stake; As Newpark Resources (NR) Stock Rose, Shareholder Foundry Partners Has Decreased Holding by $1.58 Million

February 15, 2018 - By Marguerite Chambers

Foundry Partners Llc decreased its stake in Newpark Resources Inc (NR) by 30.47% based on its latest 2017Q3 regulatory filing with the SEC. Foundry Partners Llc sold 175,855 shares as the company’s stock rose 6.67% with the market. The institutional investor held 401,335 shares of the energy company at the end of 2017Q3, valued at $4.01 million, down from 577,190 at the end of the previous reported quarter. Foundry Partners Llc who had been investing in Newpark Resources Inc for a number of months, seems to be less bullish one the $735.94M market cap company. The stock decreased 0.60% or $0.05 during the last trading session, reaching $8.25. About 147,361 shares traded. Newpark Resources, Inc. (NYSE:NR) has risen 85.19% since February 15, 2017 and is uptrending. It has outperformed by 68.49% the S&P500.

Robert Hockett decreased its stake in Weatherford Intl Plc (WFT) by 53.14% based on its latest 2017Q3 regulatory filing with the SEC. Covalent Partners Llc sold 1.07M shares as the company’s stock declined 8.25% while stock markets rallied. The hedge fund run by Robert Hockett held 946,304 shares of the metal fabrications company at the end of 2017Q3, valued at $4.33M, down from 2.02M at the end of the previous reported quarter. Covalent Partners Llc who had been investing in Weatherford Intl Plc for a number of months, seems to be less bullish one the $2.74 billion market cap company. The stock increased 0.73% or $0.02 during the last trading session, reaching $2.76. About 1.97M shares traded. Weatherford International plc (NYSE:WFT) has risen 2.15% since February 15, 2017 and is uptrending. It has underperformed by 14.55% the S&P500.

Investors sentiment decreased to 0.97 in 2017 Q3. Its down 0.17, from 1.14 in 2017Q2. It turned negative, as 18 investors sold NR shares while 57 reduced holdings. 28 funds opened positions while 45 raised stakes. 87.91 million shares or 0.11% more from 87.81 million shares in 2017Q2 were reported. Royal Bank & Trust Of Canada holds 0% or 45,320 shares in its portfolio. Eam Investors Limited Liability has invested 0.26% in Newpark Resources, Inc. (NYSE:NR). Ubs Asset Americas has invested 0% in Newpark Resources, Inc. (NYSE:NR). Van Den Berg Mngmt I invested in 119,000 shares. Jacobs Levy Equity Management Incorporated has invested 0.01% in Newpark Resources, Inc. (NYSE:NR). Prudential Fincl Incorporated holds 0% of its portfolio in Newpark Resources, Inc. (NYSE:NR) for 141,399 shares. Falcon Point Lc reported 119,774 shares. Dimensional Fund Advsr LP invested in 7.46 million shares. Adage Cap Prtn Group Limited Liability Company holds 0% or 142,577 shares in its portfolio. Van Eck Assoc holds 62,525 shares or 0% of its portfolio. Sg Americas Securities Ltd Llc reported 19,392 shares. Cornercap Counsel holds 0.13% or 89,975 shares. Deutsche Fincl Bank Ag accumulated 280,930 shares. Bnp Paribas Arbitrage Sa accumulated 46,604 shares or 0% of the stock. Wells Fargo And Mn holds 0% or 1.27M shares.

Foundry Partners Llc, which manages about $1.13B and $2.50B US Long portfolio, upped its stake in Dime Community Banc (NASDAQ:DCOM) by 16,350 shares to 324,830 shares, valued at $6.98M in 2017Q3, according to the filing. It also increased its holding in Convergys Corp (NYSE:CVG) by 17,087 shares in the quarter, for a total of 243,435 shares, and has risen its stake in Lakeland Bancorp Inc Com (NASDAQ:LBAI).

Among 6 analysts covering Newpark Resources (NYSE:NR), 5 have Buy rating, 0 Sell and 1 Hold. Therefore 83% are positive. Newpark Resources had 13 analyst reports since September 4, 2015 according to SRatingsIntel. Credit Suisse reinitiated the stock with “Outperform” rating in Monday, July 18 report. The stock of Newpark Resources, Inc. (NYSE:NR) has “Buy” rating given on Thursday, November 2 by SunTrust. The rating was upgraded by Capital One on Wednesday, June 15 to “Overweight”. Cowen & Co maintained the stock with “Hold” rating in Friday, October 6 report. The rating was maintained by Cowen & Co with “Outperform” on Tuesday, February 16. As per Friday, July 7, the company rating was maintained by Cowen & Co. The rating was upgraded by Credit Suisse to “Outperform” on Wednesday, June 1. Cowen & Co downgraded Newpark Resources, Inc. (NYSE:NR) rating on Thursday, January 19. Cowen & Co has “Market Perform” rating and $8 target. The stock of Newpark Resources, Inc. (NYSE:NR) has “Buy” rating given on Thursday, January 5 by Loop Capital. The stock of Newpark Resources, Inc. (NYSE:NR) earned “Buy” rating by Tudor Pickering on Monday, May 2.

Covalent Partners Llc, which manages about $968.54 million and $147.33M US Long portfolio, upped its stake in Medical Pptys Trust Inc (NYSE:MPW) by 155,702 shares to 652,702 shares, valued at $8.57 million in 2017Q3, according to the filing.

Among 34 analysts covering Weatherford International Ltd. (NYSE:WFT), 26 have Buy rating, 1 Sell and 7 Hold. Therefore 76% are positive. Weatherford International Ltd. had 113 analyst reports since July 24, 2015 according to SRatingsIntel. The stock has “Sector Perform” rating by Howard Weil on Thursday, October 27. The rating was upgraded by Susquehanna on Tuesday, October 27 to “Positive”. The rating was maintained by Citigroup with “Buy” on Tuesday, June 14. The stock of Weatherford International plc (NYSE:WFT) has “Market Perform” rating given on Thursday, July 6 by Bernstein. On Wednesday, October 5 the stock rating was maintained by Citigroup with “Buy”. The rating was maintained by BMO Capital Markets on Thursday, July 13 with “Buy”. The rating was upgraded by Seaport Global on Friday, May 6 to “Buy”. Citigroup maintained the shares of WFT in report on Monday, October 5 with “Neutral” rating. Guggenheim maintained Weatherford International plc (NYSE:WFT) on Monday, February 5 with “Buy” rating. Jefferies maintained it with “Hold” rating and $5.0 target in Friday, September 1 report.

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By1 Marguerite Chambers

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