Underhill Investment Management LLC Lowers Holdings in Core Laboratories N.V. (CLB)

Underhill Investment Management LLC lessened its stake in Core Laboratories N.V. (NYSE:CLB) by 27.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,460 shares of the oil and gas company’s stock after selling 15,935 shares during the quarter. Core Laboratories N.V. comprises approximately 2.3% of Underhill Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Underhill Investment Management LLC owned approximately 0.10% of Core Laboratories N.V. worth $4,191,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC increased its position in Core Laboratories N.V. by 13.1% in the 2nd quarter. Parallel Advisors LLC now owns 1,008 shares of the oil and gas company’s stock valued at $101,000 after acquiring an additional 117 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Core Laboratories N.V. by 63.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 439 shares in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in Core Laboratories N.V. in the 2nd quarter valued at about $134,000. Advisory Services Network LLC increased its position in Core Laboratories N.V. by 33.3% in the 2nd quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 341 shares in the last quarter. Finally, First Bank & Trust increased its position in Core Laboratories N.V. by 5.8% in the 2nd quarter. First Bank & Trust now owns 1,493 shares of the oil and gas company’s stock valued at $152,000 after acquiring an additional 82 shares in the last quarter.

Shares of Core Laboratories N.V. (NYSE:CLB) traded up 1.80% on Tuesday, hitting $99.41. 413,585 shares of the stock traded hands. The stock has a market cap of $4.39 billion, a PE ratio of 60.99 and a beta of 1.63. Core Laboratories N.V. has a 1-year low of $86.55 and a 1-year high of $125.83. The stock has a 50 day moving average of $95.33 and a 200-day moving average of $100.28.

Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings data on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. Core Laboratories N.V. had a return on equity of 52.89% and a net margin of 12.06%. The company had revenue of $166.20 million during the quarter, compared to the consensus estimate of $160.94 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The firm’s revenue was up 1.4% compared to the same quarter last year. On average, equities research analysts expect that Core Laboratories N.V. will post $1.99 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Friday, October 20th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, October 19th. Core Laboratories N.V.’s dividend payout ratio is currently 126.44%.

Several research firms have weighed in on CLB. BidaskClub cut shares of Core Laboratories N.V. from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Piper Jaffray Companies set a $97.00 price objective on shares of Core Laboratories N.V. and gave the company a “hold” rating in a research report on Wednesday, July 26th. Citigroup Inc. lowered their price objective on shares of Core Laboratories N.V. from $102.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, July 26th. UBS AG restated a “neutral” rating and issued a $110.00 price objective (down previously from $125.00) on shares of Core Laboratories N.V. in a research report on Wednesday, July 26th. Finally, Zacks Investment Research cut shares of Core Laboratories N.V. from a “hold” rating to a “strong sell” rating in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. Core Laboratories N.V. presently has a consensus rating of “Hold” and a consensus price target of $108.64.

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Core Laboratories N.V. Company Profile

Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.

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Institutional Ownership by Quarter for Core Laboratories N.V. (NYSE:CLB)

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