Headlands Technologies LLC Buys Shares of 1,781 Core Laboratories Inc. (NYSE:CLB)

Headlands Technologies LLC purchased a new position in shares of Core Laboratories Inc. (NYSE:CLB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 1,781 shares of the oil and gas company’s stock, valued at approximately $36,000.

A number of other hedge funds have also made changes to their positions in the stock. Quadrant Capital Group LLC raised its position in shares of Core Laboratories by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 1,538 shares during the period. GAMMA Investing LLC raised its holdings in Core Laboratories by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 857 shares during the period. CWM LLC lifted its position in Core Laboratories by 1,178.6% during the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 3,300 shares during the last quarter. Lindbrook Capital LLC boosted its holdings in Core Laboratories by 19.7% during the first quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 612 shares during the period. Finally, Platinum Investment Management Ltd. grew its position in shares of Core Laboratories by 43.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 5,577 shares of the oil and gas company’s stock valued at $98,000 after purchasing an additional 1,698 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Analyst Upgrades and Downgrades

CLB has been the subject of several research reports. Bank of America reduced their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. StockNews.com downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday. Piper Sandler reduced their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Stifel Nicolaus boosted their price target on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Three analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Reduce” and a consensus price target of $18.50.

Core Laboratories Stock Up 4.9 %

Shares of CLB opened at $18.36 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. The company has a 50-day moving average price of $20.36 and a two-hundred day moving average price of $18.54. The stock has a market cap of $861.08 million, a price-to-earnings ratio of 20.86, a P/E/G ratio of 0.94 and a beta of 2.37. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.20.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business had revenue of $130.58 million for the quarter, compared to analyst estimates of $132.85 million. During the same quarter in the previous year, the firm earned $0.23 EPS. Core Laboratories’s quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 5th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date was Monday, August 5th. Core Laboratories’s dividend payout ratio is currently 4.55%.

About Core Laboratories

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.