ExodusPoint Capital Management LP acquired a new position in shares of Core Laboratories Inc. (NYSE:CLB – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 70,799 shares of the oil and gas company’s stock, valued at approximately $1,561,000. ExodusPoint Capital Management LP owned about 0.15% of Core Laboratories as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp increased its position in Core Laboratories by 328.1% during the first quarter. Fifth Third Bancorp now owns 1,858 shares of the oil and gas company’s stock worth $41,000 after buying an additional 1,424 shares in the last quarter. Captrust Financial Advisors increased its position in Core Laboratories by 185.7% during the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock worth $60,000 after buying an additional 1,237 shares in the last quarter. Quadrant Capital Group LLC increased its position in Core Laboratories by 213.1% during the fourth quarter. Quadrant Capital Group LLC now owns 2,805 shares of the oil and gas company’s stock worth $57,000 after buying an additional 1,909 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Core Laboratories by 184.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,934 shares of the oil and gas company’s stock worth $59,000 after buying an additional 1,904 shares in the last quarter. Finally, UBS Group AG increased its position in Core Laboratories by 171.6% during the third quarter. UBS Group AG now owns 3,200 shares of the oil and gas company’s stock worth $43,000 after buying an additional 2,022 shares in the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on the company. Piper Sandler raised their price target on Core Laboratories from $19.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, July 31st. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. TheStreet raised Core Laboratories from a “c” rating to a “b-” rating in a research report on Wednesday, July 26th. Finally, Citigroup downgraded Core Laboratories from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $22.00 to $21.00 in a research report on Friday, June 30th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $21.70.
Core Laboratories Price Performance
CLB stock opened at $24.92 on Friday. The stock has a 50-day moving average price of $24.36 and a two-hundred day moving average price of $23.26. Core Laboratories Inc. has a 12-month low of $13.19 and a 12-month high of $27.94. The company has a current ratio of 2.45, a quick ratio of 1.71 and a debt-to-equity ratio of 0.83. The company has a market cap of $1.16 billion, a PE ratio of 30.02, a price-to-earnings-growth ratio of 0.81 and a beta of 2.68.
Core Laboratories (NYSE:CLB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Core Laboratories had a return on equity of 16.83% and a net margin of 7.75%. The firm had revenue of $127.88 million during the quarter, compared to the consensus estimate of $132.20 million. As a group, research analysts predict that Core Laboratories Inc. will post 0.61 EPS for the current year.
Core Laboratories Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Shareholders of record on Monday, August 7th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.16%. The ex-dividend date of this dividend was Friday, August 4th. Core Laboratories’s dividend payout ratio is presently 4.82%.
Core Laboratories Profile
Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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