Core Laboratories Inc. (NYSE:CLB) Shares Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its stake in shares of Core Laboratories Inc. (NYSE:CLB) by 6.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 103,170 shares of the oil and gas company’s stock after purchasing an additional 6,212 shares during the period. Public Sector Pension Investment Board owned approximately 0.22% of Core Laboratories worth $2,093,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CLB. Van ECK Associates Corp grew its stake in shares of Core Laboratories by 9.0% in the first quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company’s stock valued at $10,915,000 after buying an additional 52,639 shares in the last quarter. Gendell Jeffrey L increased its stake in Core Laboratories by 35.1% during the fourth quarter. Gendell Jeffrey L now owns 162,093 shares of the oil and gas company’s stock worth $2,863,000 after purchasing an additional 42,140 shares during the period. Vanguard Group Inc. increased its stake in Core Laboratories by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock worth $92,096,000 after purchasing an additional 27,701 shares during the period. Congress Wealth Management LLC DE lifted its position in shares of Core Laboratories by 40.8% during the first quarter. Congress Wealth Management LLC DE now owns 183,282 shares of the oil and gas company’s stock worth $3,130,000 after purchasing an additional 53,090 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted 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 valued at $27,443,000 after purchasing an additional 240,989 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.

Core Laboratories Trading Up 2.4 %

NYSE:CLB opened at $18.27 on Monday. Core Laboratories Inc. has a 1 year low of $13.82 and a 1 year high of $25.20. The stock has a market cap 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 company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The stock has a 50-day simple moving average of $19.65 and a 200-day simple moving average of $18.72.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $130.58 million for the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 earnings per share. As a group, 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. Shareholders of record on Monday, August 5th were paid a $0.01 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.04 annualized dividend and a yield of 0.22%. Core Laboratories’s dividend payout ratio is presently 4.55%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Piper Sandler cut their price objective 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 reduced their price target 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. StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus raised their target price 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. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Hold” and an average price target 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.