Rhumbline Advisers Has $2.79 Million Position in Core Laboratories Inc. (NYSE:CLB)

Rhumbline Advisers lessened its holdings in Core Laboratories Inc. (NYSE:CLB) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 137,262 shares of the oil and gas company’s stock after selling 7,317 shares during the quarter. Rhumbline Advisers’ holdings in Core Laboratories were worth $2,785,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Quadrant Capital Group LLC grew its stake in Core Laboratories by 84.0% during the 4th 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 grew its position in Core Laboratories by 31.6% during 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. CWM LLC increased its stake in Core Laboratories by 1,178.6% in the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 3,300 shares during the period. Lindbrook Capital LLC lifted its position in Core Laboratories by 19.7% in the 1st quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock worth $63,000 after buying an additional 612 shares in the last quarter. Finally, Platinum Investment Management Ltd. boosted its stake in shares of Core Laboratories by 43.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 5,577 shares of the oil and gas company’s stock valued at $98,000 after buying an additional 1,698 shares during the period. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Stock Performance

NYSE:CLB opened at $18.30 on Thursday. The firm has a market capitalization of $858.27 million, a PE ratio of 20.97, a price-to-earnings-growth ratio of 0.94 and a beta of 2.37. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories Inc. has a 12-month low of $13.82 and a 12-month high of $25.20. The firm has a 50-day moving average price of $20.31 and a 200 day moving average price of $18.56.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping 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 business had revenue of $130.58 million during the quarter, compared to analysts’ expectations of $132.85 million. During the same quarter last year, the company posted $0.23 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts anticipate that Core Laboratories Inc. will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CLB. Piper Sandler dropped their price target on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Bank of America dropped their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus lifted their price target on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday. 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 MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $18.00.

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.