Moors & Cabot Inc. grew its stake in Core Laboratories (NYSE:CLB) by 102.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,280 shares of the oil and gas company’s stock after acquiring an additional 11,251 shares during the quarter. Moors & Cabot Inc. owned about 0.05% of Core Laboratories worth $1,518,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Retirement Systems of Alabama increased its position in shares of Core Laboratories by 0.3% during the 4th quarter. Retirement Systems of Alabama now owns 57,324 shares of the oil and gas company’s stock worth $3,420,000 after purchasing an additional 188 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Core Laboratories by 1.7% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the oil and gas company’s stock valued at $820,000 after acquiring an additional 200 shares during the period. American International Group Inc. boosted its holdings in Core Laboratories by 0.3% during the 4th quarter. American International Group Inc. now owns 89,318 shares of the oil and gas company’s stock valued at $5,329,000 after acquiring an additional 243 shares during the period. Clear Harbor Asset Management LLC boosted its holdings in Core Laboratories by 0.6% during the 4th quarter. Clear Harbor Asset Management LLC now owns 43,191 shares of the oil and gas company’s stock valued at $2,579,000 after acquiring an additional 257 shares during the period. Finally, Captrust Financial Advisors boosted its holdings in Core Laboratories by 20.4% during the 4th quarter. Captrust Financial Advisors now owns 1,856 shares of the oil and gas company’s stock valued at $111,000 after acquiring an additional 314 shares during the period.
A number of equities analysts recently commented on CLB shares. UBS Group set a $72.00 target price on Core Laboratories and gave the company a “hold” rating in a report on Saturday, February 2nd. Zacks Investment Research upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Tudor Pickering upgraded Core Laboratories from a “hold” rating to a “buy” rating in a report on Monday, February 25th. Finally, Stifel Nicolaus set a $75.00 target price on Core Laboratories and gave the company a “buy” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Core Laboratories currently has an average rating of “Hold” and an average price target of $86.45.
In other news, CAO Kevin Daniels sold 428 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $66.25, for a total transaction of $28,355.00. Following the sale, the chief accounting officer now owns 352 shares of the company’s stock, valued at approximately $23,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by company insiders.
Shares of NYSE CLB traded down $0.06 during midday trading on Wednesday, hitting $48.88. 560,996 shares of the company’s stock were exchanged, compared to its average volume of 590,385. The company has a debt-to-equity ratio of 1.92, a quick ratio of 1.45 and a current ratio of 1.84. Core Laboratories has a twelve month low of $51.20 and a twelve month high of $129.43. The firm has a market capitalization of $2.23 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.95 and a beta of 1.80.
Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, April 24th. The oil and gas company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Core Laboratories had a return on equity of 57.13% and a net margin of 13.79%. The business had revenue of $169.19 million for the quarter, compared to analyst estimates of $166.79 million. During the same quarter last year, the company earned $0.57 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. On average, sell-side analysts forecast that Core Laboratories will post 1.99 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.50%. The ex-dividend date of this dividend was Thursday, April 25th.
About Core Laboratories
Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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