Amalgamated Bank Decreases Stake in Core Laboratories Inc. (NYSE:CLB)

Amalgamated Bank lessened its stake in Core Laboratories Inc. (NYSE:CLB) by 7.3% in the second quarter, HoldingsChannel.com reports. The firm owned 14,016 shares of the oil and gas company’s stock after selling 1,111 shares during the quarter. Amalgamated Bank’s holdings in Core Laboratories were worth $284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ariel Investments LLC raised its holdings in Core Laboratories by 20.4% during the first quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after purchasing an additional 1,837,258 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of 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 during the last quarter. Congress Asset Management Co. MA boosted its position in shares of Core Laboratories by 17.6% in the 1st 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 buying an additional 240,989 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Core Laboratories by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 754,407 shares of the oil and gas company’s stock worth $13,323,000 after buying an additional 134,227 shares in the last quarter. Finally, Boston Trust Walden Corp grew its stake in Core Laboratories by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 729,760 shares of the oil and gas company’s stock valued at $14,807,000 after acquiring an additional 9,468 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Core Laboratories Price Performance

CLB stock opened at $18.51 on Tuesday. The stock’s fifty day simple moving average is $19.57 and its 200-day simple moving average is $18.73. 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 52-week low of $13.82 and a 52-week high of $25.13. The stock has a market capitalization of $868.12 million, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.09 and a beta of 2.37.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $132.85 million. During the same period in the prior year, the firm posted $0.23 EPS. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts expect that Core Laboratories Inc. will post 0.8 EPS for the current 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 paid 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 Analysts Forecast Growth

Several analysts have issued reports on CLB shares. Stifel Nicolaus upped their price target 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. StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, September 17th. Bank of America cut 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, Piper Sandler decreased 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. Two 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, the company currently has a consensus rating of “Hold” and a consensus 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.