Commonwealth Equity Services LLC Takes $297,000 Position in Core Laboratories Inc. (NYSE:CLB)

Commonwealth Equity Services LLC bought a new stake in Core Laboratories Inc. (NYSE:CLB) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 14,632 shares of the oil and gas company’s stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its holdings 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 acquiring an additional 1,538 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Core Laboratories by 31.6% in the first quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 857 shares in the last quarter. CWM LLC boosted its holdings in shares of Core Laboratories by 1,178.6% in the first quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 3,300 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Core Laboratories by 19.7% in 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 in the last quarter. Finally, Platinum Investment Management Ltd. boosted its holdings 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 acquiring an additional 1,698 shares in the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Price Performance

Core Laboratories stock opened at $19.18 on Tuesday. Core Laboratories Inc. has a 1 year low of $13.82 and a 1 year high of $25.20. The firm has a 50 day moving average price of $20.06 and a 200 day moving average price of $18.65. The company has a market cap of $899.31 million, a price-to-earnings ratio of 21.79, a PEG ratio of 0.94 and a beta of 2.37. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39.

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

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 5th were paid a dividend of $0.01 per share. The ex-dividend date was Monday, August 5th. This represents a $0.04 annualized dividend and a yield of 0.21%. Core Laboratories’s dividend payout ratio is currently 4.55%.

Wall Street Analysts Forecast Growth

CLB has been the topic of several analyst reports. StockNews.com downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Piper Sandler reduced their price objective 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. Bank of America cut their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus lifted their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.00.

Core Laboratories Company 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.