Guggenheim Capital LLC Has $837,000 Stock Holdings in Core Laboratories Inc. (NYSE:CLB)

Posted by Defense World Staff on Sep 5th, 2023

Guggenheim Capital LLC increased its holdings in Core Laboratories Inc. (NYSE:CLB – Free Report) by 45.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,978 shares of the oil and gas company’s stock after purchasing an additional 11,925 shares during the period. Guggenheim Capital LLC owned approximately 0.08% of Core Laboratories worth $837,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Confluence Investment Management LLC raised its position in Core Laboratories by 4.8% in the first quarter. Confluence Investment Management LLC now owns 204,576 shares of the oil and gas company’s stock worth $4,511,000 after purchasing an additional 9,341 shares in the last quarter. Fifth Third Bancorp raised its position in Core Laboratories by 328.1% in the first quarter. Fifth Third Bancorp now owns 1,858 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 1,424 shares in the last quarter. New York Life Investment Management LLC raised its position in Core Laboratories by 12.7% in the fourth quarter. New York Life Investment Management LLC now owns 17,934 shares of the oil and gas company’s stock worth $364,000 after purchasing an additional 2,022 shares in the last quarter. Wintrust Investments LLC raised its position in Core Laboratories by 9.2% in the fourth quarter. Wintrust Investments LLC now owns 399,342 shares of the oil and gas company’s stock worth $8,095,000 after purchasing an additional 33,507 shares in the last quarter. Finally, Beck Bode LLC acquired a new position in Core Laboratories in the first quarter worth about $4,840,000. Institutional investors and hedge funds own 97.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CLB. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. Citigroup lowered shares of Core Laboratories from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $22.00 to $21.00 in a report on Friday, June 30th. Piper Sandler raised their price objective on shares of Core Laboratories from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Finally, TheStreet raised shares of Core Laboratories from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $21.70.

Read Our Latest Stock Analysis on CLB

Core Laboratories Price Performance

CLB opened at $24.92 on Tuesday. Core Laboratories Inc. has a one year low of $13.19 and a one year high of $27.94. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.45 and a quick ratio of 1.71. The company’s 50 day simple moving average is $24.36 and its 200-day simple moving average is $23.24. The stock has a market capitalization of $1.16 billion, a P/E ratio of 30.02, a price-to-earnings-growth ratio of 0.83 and a beta of 2.68.

Core Laboratories (NYSE:CLB – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.15 by $0.08. Core Laboratories had a net margin of 7.75% and a return on equity of 16.83%. The business had revenue of $127.88 million for the quarter, compared to analysts’ expectations of $132.20 million. Sell-side analysts anticipate that Core Laboratories Inc. will post 0.61 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 28th. Stockholders of record on Monday, August 7th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Core Laboratories’s dividend payout ratio (DPR) is currently 4.82%.

Core Laboratories Company Profile

(Free Report)

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.