Texas Permanent School Fund Corp Boosts Stock Position in Core Laboratories Inc. (NYSE:CLB)

Texas Permanent School Fund Corp increased its position in shares of Core Laboratories Inc. (NYSE:CLB) by 13.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,100 shares of the oil and gas company’s stock after acquiring an additional 5,489 shares during the period. Texas Permanent School Fund Corp’s holdings in Core Laboratories were worth $935,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CLB. Van ECK Associates Corp lifted its position in shares of Core Laboratories by 9.0% during the first quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company’s stock worth $10,915,000 after purchasing an additional 52,639 shares in the last quarter. Gendell Jeffrey L increased its stake in Core Laboratories by 35.1% during the 4th quarter. Gendell Jeffrey L now owns 162,093 shares of the oil and gas company’s stock worth $2,863,000 after buying an additional 42,140 shares during the period. Vanguard Group Inc. lifted its holdings in Core Laboratories by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock worth $92,096,000 after buying an additional 27,701 shares in the last quarter. Congress Wealth Management LLC DE boosted its position in Core Laboratories by 40.8% in the 1st quarter. Congress Wealth Management LLC DE now owns 183,282 shares of the oil and gas company’s stock valued at $3,130,000 after buying an additional 53,090 shares during the period. Finally, Congress Asset Management Co. MA grew its stake in shares of Core Laboratories by 17.6% in the first quarter. Congress Asset Management Co. MA now owns 1,606,745 shares of the oil and gas company’s stock worth $27,443,000 after acquiring an additional 240,989 shares in the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Stock Performance

NYSE:CLB opened at $18.57 on Friday. The firm has a market capitalization of $870.93 million, a PE ratio of 21.35, a price-to-earnings-growth ratio of 0.94 and a beta of 2.37. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68. The business’s fifty day moving average price is $20.20 and its 200 day moving average price is $18.56. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.20.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.23 EPS. On average, sell-side analysts anticipate that Core Laboratories Inc. will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on CLB shares. Stifel Nicolaus increased their price objective on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Piper Sandler reduced their price target on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Bank of America lowered their price objective 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. Finally, StockNews.com cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, Core Laboratories has a consensus rating of “Hold” and a consensus price target of $18.00.

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.