Keybank National Association OH reduced its stake in Core Laboratories (NYSE:CLB) by 20.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,350 shares of the oil and gas company’s stock after selling 608 shares during the period. Keybank National Association OH’s holdings in Core Laboratories were worth $272,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in CLB. Signaturefd LLC increased its stake in Core Laboratories by 403.7% in the 2nd quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 650 shares during the period. Cornerstone Wealth Management LLC purchased a new position in Core Laboratories in the 3rd quarter worth approximately $122,000. Parallel Advisors LLC increased its stake in Core Laboratories by 73.3% in the 3rd quarter. Parallel Advisors LLC now owns 1,634 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 691 shares during the period. WMS Partners LLC purchased a new position in Core Laboratories in the 2nd quarter worth approximately $202,000. Finally, Welch & Forbes LLC purchased a new position in Core Laboratories in the 3rd quarter worth approximately $210,000.
CLB opened at $83.11 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31. Core Laboratories has a 52-week low of $78.44 and a 52-week high of $130.34. The company has a market cap of $3.67 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Friday, October 19th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, October 18th. This represents a $2.20 annualized dividend and a dividend yield of 2.65%. Core Laboratories’s dividend payout ratio is presently 110.00%.
A number of equities analysts have commented on CLB shares. Piper Jaffray Companies set a $95.00 price target on Core Laboratories and gave the stock a “hold” rating in a research note on Friday, October 5th. Morgan Stanley reduced their target price on Core Laboratories from $115.00 to $105.00 and set a “hold” rating on the stock in a research note on Monday, October 29th. Guggenheim raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Friday, November 16th. Zacks Investment Research reissued a “sell” rating on shares of Core Laboratories in a research note on Monday, November 12th. Finally, JPMorgan Chase & Co. boosted their target price on Core Laboratories from $118.00 to $121.00 and gave the company an “overweight” rating in a research note on Monday, September 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. Core Laboratories has an average rating of “Hold” and a consensus price target of $112.08.
Core Laboratories Company Profile
Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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