Core Laboratories Inc. (NYSE:CLB) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in Core Laboratories Inc. (NYSE:CLB) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,772 shares of the oil and gas company’s stock after selling 764 shares during the period. State of Alaska Department of Revenue owned 0.06% of Core Laboratories worth $496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CLB. Norden Group LLC acquired a new stake in shares of Core Laboratories in the 1st quarter worth $394,000. GSA Capital Partners LLP raised its stake in Core Laboratories by 177.0% during the first quarter. GSA Capital Partners LLP now owns 38,827 shares of the oil and gas company’s stock worth $663,000 after purchasing an additional 24,812 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Core Laboratories by 39.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,137 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 4,000 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Core Laboratories by 2.2% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 53,552 shares of the oil and gas company’s stock valued at $915,000 after purchasing an additional 1,129 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Core Laboratories in the 1st quarter valued at approximately $1,237,000. Institutional investors and hedge funds own 97.81% of the company’s stock.

Wall Street Analyst Weigh In

CLB has been the topic of a number of recent analyst reports. Piper Sandler decreased their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Citigroup lowered their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus boosted their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Bank of America lowered 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 note on Monday, July 15th. Finally, StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to MarketBeat, Core Laboratories has an average rating of “Hold” and an average target price of $17.00.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $20.74 on Friday. The stock has a market capitalization of $973.74 million, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 1.35 and a beta of 2.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. The business has a 50-day moving average of $18.73 and a 200 day moving average of $19.14. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.13.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The business had revenue of $134.40 million during the quarter, compared to analyst estimates of $134.16 million. During the same quarter last year, the firm posted $0.22 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Core Laboratories Inc. will post 0.77 earnings per share for the current year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 4th will be paid a $0.01 dividend. The ex-dividend date is Monday, November 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. Core Laboratories’s dividend payout ratio (DPR) is 6.15%.

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.