CARBO Ceramics (CRR) Sees Unusually-High Trading Volume

CARBO Ceramics Inc. (NYSE:CRR) shares saw strong trading volume on Thursday . 1,195,876 shares changed hands during mid-day trading, an increase of 89% from the previous session’s volume of 634,185 shares.The stock last traded at $11.98 and had previously closed at $11.63.

Several analysts have issued reports on the stock. ValuEngine upgraded shares of CARBO Ceramics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 31st. Scotiabank set a $12.00 target price on shares of CARBO Ceramics and gave the company a “hold” rating in a research report on Friday, October 27th. Zacks Investment Research lowered shares of CARBO Ceramics from a “buy” rating to a “hold” rating in a research report on Wednesday, October 11th. Finally, Cowen set a $11.00 target price on shares of CARBO Ceramics and gave the company a “hold” rating in a research report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $10.88.

The company has a current ratio of 5.74, a quick ratio of 3.31 and a debt-to-equity ratio of 0.20. The company has a market cap of $329.99, a PE ratio of -1.29 and a beta of 2.00.

CARBO Ceramics (NYSE:CRR) last issued its earnings results on Thursday, October 26th. The oil and gas company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.81) by ($0.16). CARBO Ceramics had a negative net margin of 79.49% and a negative return on equity of 16.48%. The business had revenue of $50.20 million for the quarter, compared to analyst estimates of $46.98 million. During the same quarter last year, the firm posted ($0.49) earnings per share. CARBO Ceramics’s revenue was up 148.5% on a year-over-year basis. equities analysts expect that CARBO Ceramics Inc. will post -3.85 earnings per share for the current fiscal year.

In other CARBO Ceramics news, major shareholder Wilks Brothers, Llc bought 134,356 shares of the firm’s stock in a transaction dated Wednesday, November 14th. The shares were acquired at an average cost of $8.57 per share, for a total transaction of $1,151,430.92. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 16.20% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in CRR. Wells Fargo & Company MN lifted its holdings in CARBO Ceramics by 70.0% during the 3rd quarter. Wells Fargo & Company MN now owns 879,216 shares of the oil and gas company’s stock valued at $7,588,000 after purchasing an additional 362,028 shares during the last quarter. Old West Investment Management LLC lifted its holdings in CARBO Ceramics by 399.5% during the 3rd quarter. Old West Investment Management LLC now owns 266,200 shares of the oil and gas company’s stock valued at $2,297,000 after purchasing an additional 212,911 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in CARBO Ceramics by 127.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 304,353 shares of the oil and gas company’s stock valued at $2,627,000 after purchasing an additional 170,289 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in CARBO Ceramics by 34.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 548,679 shares of the oil and gas company’s stock valued at $3,780,000 after purchasing an additional 140,807 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in CARBO Ceramics by 37.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 483,019 shares of the oil and gas company’s stock valued at $4,169,000 after purchasing an additional 131,139 shares during the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.

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CARBO Ceramics Company Profile

CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.

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