Two Sigma Investments LP grew its holdings in Core Laboratories Inc. (NYSE:CLB – Free Report) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 84,277 shares of the oil and gas company’s stock after purchasing an additional 8,957 shares during the period. Two Sigma Investments LP owned about 0.18% of Core Laboratories worth $1,459,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in CLB. Assetmark Inc. acquired a new position in Core Laboratories during the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its holdings in Core Laboratories by 173.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,293 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Core Laboratories by 843.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company’s stock worth $57,000 after buying an additional 2,936 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Core Laboratories during the fourth quarter worth $123,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Core Laboratories during the fourth quarter worth $149,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have commented on CLB. Wall Street Zen downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Stifel Nicolaus cut their target price on shares of Core Laboratories from $19.00 to $15.00 and set a “hold” rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup decreased their price target on shares of Core Laboratories from $16.00 to $13.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.00.
Core Laboratories Trading Up 7.5%
Shares of CLB stock opened at $11.45 on Wednesday. The firm has a 50 day moving average price of $12.00 and a two-hundred day moving average price of $15.70. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $536.81 million, a PE ratio of 17.35, a price-to-earnings-growth ratio of 0.99 and a beta of 1.45. Core Laboratories Inc. has a 12-month low of $10.14 and a 12-month high of $25.13.
Core Laboratories (NYSE:CLB – Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.01). The company had revenue of $123.59 million for the quarter, compared to analyst estimates of $125.09 million. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. The company’s revenue was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $0.19 earnings per share. As a group, analysts predict that Core Laboratories Inc. will post 0.96 earnings per share for the current year.
Core Laboratories Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. Core Laboratories’s payout ratio is presently 6.78%.
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, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.
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