South Dakota Investment Council lifted its position in shares of Core Laboratories (NYSE:CLB) by 24.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,610 shares of the oil and gas company’s stock after purchasing an additional 3,300 shares during the period. South Dakota Investment Council’s holdings in Core Laboratories were worth $868,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of CLB. Van ECK Associates Corp boosted its holdings in shares of Core Laboratories by 129.5% during the second quarter. Van ECK Associates Corp now owns 1,272,774 shares of the oil and gas company’s stock worth $66,541,000 after purchasing an additional 718,280 shares during the period. Manning & Napier Group LLC raised its stake in Core Laboratories by 2,062.3% in the second quarter. Manning & Napier Group LLC now owns 720,686 shares of the oil and gas company’s stock worth $37,675,000 after buying an additional 687,356 shares in the last quarter. Granite Investment Partners LLC bought a new position in Core Laboratories in the second quarter worth about $13,923,000. Kayne Anderson Rudnick Investment Management LLC raised its stake in Core Laboratories by 12.3% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,553,960 shares of the oil and gas company’s stock worth $107,115,000 after buying an additional 170,124 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in Core Laboratories in the second quarter worth about $8,027,000.
A number of equities analysts have weighed in on the stock. Bank of America raised shares of Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday, July 10th. Morgan Stanley decreased their target price on shares of Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada set a $77.00 target price on shares of Core Laboratories and gave the company a “buy” rating in a research note on Wednesday, June 26th. ValuEngine downgraded shares of Core Laboratories from a “sell” rating to a “strong sell” rating in a research note on Monday, July 29th. Finally, Piper Jaffray Companies set a $52.00 target price on shares of Core Laboratories and gave the company a “hold” rating in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $74.42.
CLB stock traded down $0.14 on Thursday, hitting $46.81. The company had a trading volume of 24,190 shares, compared to its average volume of 628,510. Core Laboratories has a 12-month low of $36.61 and a 12-month high of $122.11. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 1.83. The stock’s 50-day simple moving average is $42.59 and its 200 day simple moving average is $55.66. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 20.44, a P/E/G ratio of 4.79 and a beta of 1.95.
Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.46. Core Laboratories had a net margin of 14.30% and a return on equity of 51.19%. The company had revenue of $169.04 million for the quarter, compared to analysts’ expectations of $173.46 million. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Core Laboratories will post 1.75 earnings per share for the current year.
Core Laboratories 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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