Envestnet Asset Management Inc. Purchases 19,546 Shares of Core Laboratories (NYSE:CLB)

Envestnet Asset Management Inc. grew its stake in shares of Core Laboratories (NYSE:CLB – Get Rating) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 237,983 shares of the oil and gas company’s stock after buying an additional 19,546 shares during the quarter. Envestnet Asset Management Inc. owned 0.51% of Core Laboratories worth $3,208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CLB. Northwestern Mutual Wealth Management Co. raised its position in shares of Core Laboratories by 103.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the oil and gas company’s stock valued at $30,000 after buying an additional 780 shares in the last quarter. UBS Group AG increased its position in shares of Core Laboratories by 171.6% in the third quarter. UBS Group AG now owns 3,200 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 2,022 shares during the period. Captrust Financial Advisors increased its position in shares of Core Laboratories by 185.7% in the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,237 shares during the period. Wipfli Financial Advisors LLC bought a new stake in shares of Core Laboratories during the 3rd quarter valued at about $80,000. Finally, Mutual of America Capital Management LLC boosted its stake in shares of Core Laboratories by 18.5% during the 3rd quarter. Mutual of America Capital Management LLC now owns 9,217 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 1,440 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CLB. Citigroup lifted their target price on shares of Core Laboratories from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Bank of America raised shares of Core Laboratories from an “underperform” rating to a “neutral” rating in a research note on Monday, January 9th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $21.83.

Core Laboratories Trading Down 3.7 %

NYSE:CLB opened at $25.56 on Tuesday. Core Laboratories has a one year low of $13.19 and a one year high of $35.83. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.05 and a quick ratio of 1.47. The company’s 50-day simple moving average is $23.70 and its 200 day simple moving average is $20.23. The firm has a market capitalization of $1.19 billion, a P/E ratio of 62.34 and a beta of 2.65.

Core Laboratories (NYSE:CLB – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The oil and gas company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.19 by $0.01. Core Laboratories had a net margin of 3.97% and a return on equity of 15.98%. The business had revenue of $127.57 million for the quarter, compared to analyst estimates of $130.12 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. Core Laboratories’s quarterly revenue was up 1.9% on a year-over-year basis. As a group, analysts forecast that Core Laboratories will post 0.72 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 6th. Stockholders of record on Monday, February 13th were paid a $0.01 dividend. The ex-dividend date was Friday, February 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Core Laboratories’s dividend payout ratio is presently 9.76%.

About Core Laboratories

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Core Laboratories NV engages in the provision of proprietary and patented reservoir description, production enhancement, and reservoir management services to the oil and gas industry. It operates through the Reservoir Description segment and Production Enhancement segment. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid, and gas samples and provides analytical and field services to characterize properties of crude oil and petroleum products.