Natixis Advisors L.P. trimmed its position in Core Laboratories Inc. (NYSE:CLB – Free Report) by 77.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,564 shares of the oil and gas company’s stock after selling 100,453 shares during the quarter. Natixis Advisors L.P. owned about 0.06% of Core Laboratories worth $630,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in Core Laboratories by 1.2% in the 1st quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company’s stock worth $1,253,000 after acquiring an additional 481 shares in the last quarter. Arizona State Retirement System grew its holdings in Core Laboratories by 3.9% during the 4th quarter. Arizona State Retirement System now owns 13,071 shares of the oil and gas company’s stock valued at $265,000 after buying an additional 487 shares in the last quarter. US Bancorp DE grew its holdings in Core Laboratories by 15.3% during the 1st quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 790 shares in the last quarter. Moors & Cabot Inc. grew its holdings in Core Laboratories by 1.6% during the 4th quarter. Moors & Cabot Inc. now owns 75,643 shares of the oil and gas company’s stock valued at $1,533,000 after buying an additional 1,210 shares in the last quarter. Finally, Captrust Financial Advisors grew its holdings in Core Laboratories by 185.7% during the 1st quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 1,237 shares in the last quarter. 97.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts have issued reports on the stock. Piper Sandler increased their price objective on shares of Core Laboratories from $19.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, July 31st. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, August 24th. Citigroup lowered shares of Core Laboratories from a “neutral” rating to a “sell” rating and cut their price objective for the company from $22.00 to $21.00 in a report on Friday, June 30th. Finally, TheStreet raised shares of Core Laboratories from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat.com, Core Laboratories currently has a consensus rating of “Reduce” and an average target price of $21.70.
Core Laboratories Trading Up 4.4 %
CLB stock opened at $25.54 on Thursday. The firm has a fifty day moving average price of $24.42 and a 200 day moving average price of $23.24. Core Laboratories Inc. has a fifty-two week low of $13.19 and a fifty-two week high of $27.94. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.71 and a current ratio of 2.45. The firm has a market cap of $1.19 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 0.83 and a beta of 2.68.
Core Laboratories (NYSE:CLB – Get Free Report) last posted its earnings results on Wednesday, July 26th. The oil and gas company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.08. Core Laboratories had a net margin of 7.75% and a return on equity of 16.83%. The firm had revenue of $127.88 million during the quarter, compared to analyst estimates 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. Investors of record on Monday, August 7th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, August 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. 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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