State Treasurer State of Michigan purchased a new position in Core Laboratories N.V. (NYSE:CLB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 16,600 shares of the oil and gas company’s stock, valued at approximately $1,638,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of 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 worth $101,000 after acquiring an additional 117 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Core Laboratories N.V. by 63.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock worth $114,000 after buying an additional 439 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Core Laboratories N.V. during the 2nd quarter worth $134,000. Advisory Services Network LLC grew its stake in Core Laboratories N.V. by 33.3% during the 2nd quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock worth $138,000 after buying an additional 341 shares during the last quarter. Finally, First Bank & Trust grew its stake in Core Laboratories N.V. by 5.8% during the 2nd quarter. First Bank & Trust now owns 1,493 shares of the oil and gas company’s stock worth $152,000 after buying an additional 82 shares during the last quarter.
Core Laboratories N.V. (NYSE CLB) opened at $102.20 on Friday. The firm has a market capitalization of $4,511.82, a PE ratio of 55.85 and a beta of 1.57. Core Laboratories N.V. has a fifty-two week low of $86.55 and a fifty-two week high of $125.83. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 1.53.
Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.04. The company had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $160.94 million. Core Laboratories N.V. had a return on equity of 52.89% and a net margin of 12.06%. Core Laboratories N.V.’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. analysts forecast that Core Laboratories N.V. will post 1.99 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Friday, October 20th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $2.20 dividend on an annualized basis and a yield of 2.15%. Core Laboratories N.V.’s payout ratio is 126.44%.
Several brokerages recently weighed in on CLB. Zacks Investment Research downgraded Core Laboratories N.V. from a “hold” rating to a “strong sell” rating in a research note on Monday, July 17th. Morgan Stanley dropped their target price on Core Laboratories N.V. from $130.00 to $125.00 and set an “overweight” rating on the stock in a research note on Monday, August 7th. ValuEngine upgraded Core Laboratories N.V. from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. BidaskClub downgraded Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Finally, UBS AG reiterated a “neutral” rating and set a $110.00 price target (down previously from $125.00) on shares of Core Laboratories N.V. in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The stock currently has an average 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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