Shelter Mutual Insurance Co reduced its stake in Core Laboratories (NYSE:CLB) by 8.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,740 shares of the oil and gas company’s stock after selling 2,960 shares during the quarter. Shelter Mutual Insurance Co owned 0.07% of Core Laboratories worth $1,607,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Stephens Investment Management Group LLC increased its position in Core Laboratories by 1.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 241,675 shares of the oil and gas company’s stock valued at $12,635,000 after acquiring an additional 3,330 shares during the period. Advisory Services Network LLC boosted its stake in Core Laboratories by 306.5% during the second quarter. Advisory Services Network LLC now owns 1,809 shares of the oil and gas company’s stock worth $95,000 after acquiring an additional 1,364 shares in the last quarter. Stevens Capital Management LP bought a new position in Core Laboratories during the second quarter worth $1,118,000. Aperio Group LLC boosted its stake in Core Laboratories by 79.9% during the second quarter. Aperio Group LLC now owns 66,640 shares of the oil and gas company’s stock worth $3,484,000 after acquiring an additional 29,599 shares in the last quarter. Finally, Dupont Capital Management Corp boosted its stake in Core Laboratories by 5.7% during the second quarter. Dupont Capital Management Corp now owns 36,854 shares of the oil and gas company’s stock worth $1,927,000 after acquiring an additional 1,973 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently issued reports on CLB. Zacks Investment Research lowered shares of Core Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. Royal Bank of Canada set a $77.00 target price on shares of Core Laboratories and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Stifel Nicolaus set a $75.00 price objective on shares of Core Laboratories and gave the company a “buy” rating in a research note on Friday, April 26th. Piper Jaffray Companies set a $52.00 price objective on shares of Core Laboratories and gave the company a “hold” rating in a research note on Wednesday, June 26th. Finally, Morgan Stanley dropped their price objective on shares of Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Core Laboratories has an average rating of “Hold” and a consensus price target of $75.67.
Shares of CLB stock traded down $1.28 during trading hours on Thursday, reaching $36.89. The stock had a trading volume of 15,696 shares, compared to its average volume of 813,821. The stock has a fifty day simple moving average of $49.91. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 1.83. Core Laboratories has a 12 month low of $37.54 and a 12 month high of $122.11. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 3.51 and a beta of 1.91.
Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 EPS for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $173.46 million. During the same period last year, the business earned $0.59 earnings per share. Core Laboratories’s revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts expect that Core Laboratories will post 1.75 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Stockholders of record on Monday, July 22nd were issued a $0.55 dividend. The ex-dividend date was Friday, July 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 5.96%. Core Laboratories’s payout ratio is 96.49%.
About Core Laboratories
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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