Envestnet Asset Management Inc. Has $6.22 Million Stock Position in Core Laboratories Inc. (NYSE:CLB)

Envestnet Asset Management Inc. raised its position in shares of Core Laboratories Inc. (NYSE:CLB) by 12.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,287 shares of the oil and gas company’s stock after purchasing an additional 34,149 shares during the period. Envestnet Asset Management Inc. owned 0.65% of Core Laboratories worth $6,215,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in shares of Core Laboratories in the 2nd quarter valued at $36,000. CWM LLC increased its position in shares of Core Laboratories by 1,178.6% during the first quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 3,300 shares during the period. GAMMA Investing LLC raised its stake 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 purchasing an additional 857 shares in the last quarter. Lindbrook Capital LLC lifted its position in 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 worth $63,000 after purchasing an additional 612 shares during the period. Finally, Platinum Investment Management Ltd. boosted its stake in Core Laboratories by 43.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 5,577 shares of the oil and gas company’s stock worth $98,000 after buying an additional 1,698 shares in the last quarter. 97.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CLB shares. StockNews.com cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Bank of America dropped their target price 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. Piper Sandler decreased their price target on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus raised their target price on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to data from MarketBeat, Core Laboratories currently has a consensus rating of “Hold” and an average target price of $18.00.

Core Laboratories Stock Performance

Shares of NYSE CLB opened at $18.27 on Monday. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.20. The company has a market capitalization of $856.86 million, a P/E ratio of 20.76, a P/E/G ratio of 1.09 and a beta of 2.37. The stock has a 50 day moving average of $19.65 and a 200-day moving average of $18.72. The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60.

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

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 5th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Monday, August 5th. Core Laboratories’s dividend payout ratio is presently 4.55%.

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, 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.