Moors & Cabot Inc. Sells 1,559 Shares of Core Laboratories Inc. (NYSE:CLB)

Moors & Cabot Inc. lowered its stake in Core Laboratories Inc. (NYSE:CLB) by 2.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 70,259 shares of the oil and gas company’s stock after selling 1,559 shares during the quarter. Moors & Cabot Inc. owned 0.15% of Core Laboratories worth $1,053,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CLB. Assetmark Inc. grew its position in Core Laboratories by 92.5% during the first quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 1,387 shares during the period. Tower Research Capital LLC TRC raised its holdings in Core Laboratories by 843.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company’s stock worth $57,000 after purchasing an additional 2,936 shares during the period. BNP Paribas Financial Markets purchased a new position in Core Laboratories during the fourth quarter valued at $123,000. KLP Kapitalforvaltning AS bought a new stake in Core Laboratories during the fourth quarter valued at about $149,000. Finally, Sherbrooke Park Advisers LLC purchased a new stake in Core Laboratories in the fourth quarter worth about $176,000. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Stock Down 3.7%

NYSE CLB opened at $10.53 on Friday. Core Laboratories Inc. has a 12 month low of $10.14 and a 12 month high of $22.78. The company has a current ratio of 2.27, a quick ratio of 1.70 and a debt-to-equity ratio of 0.47. The stock has a market cap of $493.75 million, a PE ratio of 16.98, a P/E/G ratio of 3.20 and a beta of 1.41. The stock’s 50 day moving average is $11.84 and its 200 day moving average is $13.61.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Core Laboratories had a net margin of 5.73% and a return on equity of 14.15%. The firm had revenue of $130.16 million for the quarter, compared to analysts’ expectations of $129.19 million. During the same quarter last year, the business posted $0.22 earnings per share. The company’s revenue for the quarter was down .3% compared to the same quarter last year. Research analysts predict that Core Laboratories Inc. will post 0.96 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 4th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, August 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Core Laboratories’s dividend payout ratio is presently 6.45%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CLB. Wall Street Zen raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Citigroup lowered their price target on shares of Core Laboratories from $16.00 to $13.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, Stifel Nicolaus reduced their price objective on shares of Core Laboratories from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th.

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.