First Hawaiian Bank Reduces Holdings in Core Laboratories (CLB)

First Hawaiian Bank cut its position in Core Laboratories (NYSE:CLB) by 34.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 534 shares of the oil and gas company’s stock after selling 279 shares during the quarter. First Hawaiian Bank’s holdings in Core Laboratories were worth $37,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA raised its position in shares of Core Laboratories by 37.5% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,608,898 shares of the oil and gas company’s stock worth $155,648,000 after acquiring an additional 711,739 shares during the last quarter. Millennium Management LLC raised its position in shares of Core Laboratories by 277.4% during the fourth quarter. Millennium Management LLC now owns 797,161 shares of the oil and gas company’s stock worth $47,559,000 after acquiring an additional 585,945 shares during the last quarter. Norges Bank bought a new position in shares of Core Laboratories during the fourth quarter worth about $26,251,000. Deutsche Bank AG grew its stake in Core Laboratories by 1,200.7% during the fourth quarter. Deutsche Bank AG now owns 279,876 shares of the oil and gas company’s stock worth $16,695,000 after purchasing an additional 258,359 shares during the period. Finally, Van ECK Associates Corp grew its stake in Core Laboratories by 50.1% during the fourth quarter. Van ECK Associates Corp now owns 767,372 shares of the oil and gas company’s stock worth $45,781,000 after purchasing an additional 256,061 shares during the period.

Several research firms recently commented on CLB. Tudor Pickering raised Core Laboratories from a “hold” rating to a “buy” rating in a research note on Monday, February 25th. ValuEngine cut Core Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, December 18th. UBS Group set a $72.00 price objective on Core Laboratories and gave the company a “hold” rating in a research note on Saturday, February 2nd. Zacks Investment Research cut Core Laboratories from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 23rd. Finally, Citigroup reduced their price objective on Core Laboratories from $76.00 to $66.00 and set a “neutral” rating for the company in a research note on Friday, January 4th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Core Laboratories has a consensus rating of “Hold” and a consensus price target of $89.64.

Shares of NYSE:CLB opened at $70.88 on Monday. The company has a market cap of $3.10 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.54 and a beta of 1.86. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.81 and a current ratio of 2.25. Core Laboratories has a 12-month low of $56.72 and a 12-month high of $130.34.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, January 30th. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.01). The company had revenue of $173.20 million for the quarter, compared to analysts’ expectations of $173.90 million. Core Laboratories had a net margin of 11.35% and a return on equity of 63.86%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.58 EPS. As a group, research analysts predict that Core Laboratories will post 2.06 earnings per share for the current fiscal year.

In related news, CAO Kevin Daniels sold 428 shares of Core Laboratories stock in a transaction on Monday, March 11th. The stock was sold at an average price of $66.25, for a total transaction of $28,355.00. Following the sale, the chief accounting officer now directly owns 352 shares in the company, valued at $23,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.00% of the company’s stock.

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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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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