Susquehanna Fundamental Investments LLC Reduces Holdings in Core Laboratories Inc. (NYSE:CLB)

Susquehanna Fundamental Investments LLC decreased its position in shares of Core Laboratories Inc. (NYSE:CLB) by 13.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,903 shares of the oil and gas company’s stock after selling 9,543 shares during the period. Susquehanna Fundamental Investments LLC owned about 0.13% of Core Laboratories worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ariel Investments LLC increased its stake in Core Laboratories by 20.4% during the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after buying an additional 1,837,258 shares during the period. Vanguard Group Inc. increased its stake 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 during the period. Earnest Partners LLC increased its stake in Core Laboratories by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after buying an additional 195,756 shares during the period. Congress Asset Management Co. MA increased its stake in Core Laboratories by 17.6% during 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 during the period. Finally, Fisher Asset Management LLC increased its stake in Core Laboratories by 21.6% during 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 during the period. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Trading Up 3.7 %

NYSE CLB opened at $19.21 on Wednesday. Core Laboratories Inc. has a one year low of $13.82 and a one year high of $25.13. The company has a 50-day simple moving average of $19.51 and a 200-day simple moving average of $18.75. 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 firm has a market capitalization of $900.95 million, a PE ratio of 21.83, a price-to-earnings-growth ratio of 1.09 and a beta of 2.37.

Core Laboratories (NYSE:CLB) last posted 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. 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 analyst estimates of $132.85 million. During the same period in the previous year, the business posted $0.23 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities analysts forecast that Core Laboratories Inc. will post 0.8 earnings per share for the current year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is presently 4.55%.

Analysts Set New Price Targets

CLB has been the subject of several research analyst reports. StockNews.com downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Bank of America dropped 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 report on Monday, July 15th. Stifel Nicolaus boosted their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Piper Sandler dropped their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two investment 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, the stock currently 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.