Geode Capital Management LLC Has $19.52 Million Position in Core Laboratories Inc. (NYSE:CLB)

Geode Capital Management LLC lifted its position in shares of Core Laboratories Inc. (NYSE:CLB) by 0.7% during the 3rd quarter, Holdings Channel reports. The firm owned 1,053,204 shares of the oil and gas company’s stock after purchasing an additional 7,721 shares during the quarter. Geode Capital Management LLC’s holdings in Core Laboratories were worth $19,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN grew its holdings in Core Laboratories by 26.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,653,591 shares of the oil and gas company’s stock worth $104,761,000 after purchasing an additional 1,192,871 shares during the period. Barclays PLC boosted its stake in shares of Core Laboratories by 288.2% during the 3rd quarter. Barclays PLC now owns 83,570 shares of the oil and gas company’s stock worth $1,549,000 after acquiring an additional 62,042 shares during the period. Jane Street Group LLC increased its holdings in shares of Core Laboratories by 53.8% during the 3rd quarter. Jane Street Group LLC now owns 71,989 shares of the oil and gas company’s stock worth $1,334,000 after acquiring an additional 25,189 shares during the last quarter. State Street Corp raised its stake in Core Laboratories by 2.9% in the 3rd quarter. State Street Corp now owns 1,975,016 shares of the oil and gas company’s stock valued at $36,597,000 after acquiring an additional 56,187 shares during the period. Finally, Captrust Financial Advisors acquired a new stake in Core Laboratories during the 3rd quarter valued at $997,000. 97.81% of the stock is owned by institutional investors.

Core Laboratories Stock Performance

Shares of NYSE CLB opened at $16.74 on Friday. Core Laboratories Inc. has a one year low of $13.82 and a one year high of $25.13. 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 firm has a market cap of $785.94 million, a price-to-earnings ratio of 25.75, a P/E/G ratio of 1.36 and a beta of 2.35. The stock’s fifty day moving average price is $19.41 and its two-hundred day moving average price is $19.63.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The business had revenue of $134.40 million for the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. Core Laboratories’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. On average, equities analysts forecast that Core Laboratories Inc. will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. Core Laboratories’s payout ratio is 6.15%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CLB. Citigroup decreased their price objective on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, Core Laboratories presently has an average rating of “Hold” and a consensus price target of $17.00.

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.