SG Americas Securities LLC cut its holdings in shares of Core Laboratories (NYSE:CLB – Get Rating) by 28.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,520 shares of the oil and gas company’s stock after selling 8,006 shares during the period. SG Americas Securities LLC’s holdings in Core Laboratories were worth $649,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Yousif Capital Management LLC acquired a new position in Core Laboratories during the 4th quarter valued at about $915,000. Morningstar Investment Services LLC boosted its position in shares of Core Laboratories by 1.2% during the fourth quarter. Morningstar Investment Services LLC now owns 137,042 shares of the oil and gas company’s stock valued at $3,058,000 after buying an additional 1,682 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Core Laboratories by 47.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,512 shares of the oil and gas company’s stock valued at $145,000 after buying an additional 2,105 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Core Laboratories by 40.4% during the 4th quarter. Fisher Asset Management LLC now owns 837,079 shares of the oil and gas company’s stock valued at $18,675,000 after acquiring an additional 240,721 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in Core Laboratories by 12.9% during the 4th quarter. Profund Advisors LLC now owns 14,496 shares of the oil and gas company’s stock worth $323,000 after acquiring an additional 1,652 shares during the last quarter. 92.56% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Core Laboratories from $26.00 to $20.00 in a report on Tuesday, July 26th. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, May 11th. Piper Sandler downgraded Core Laboratories from a “neutral” rating to an “underweight” rating and increased their price target for the company from $19.50 to $21.30 in a research report on Monday, April 18th. Finally, Morgan Stanley dropped their price target on Core Laboratories from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Monday.
Core Laboratories Stock Performance
Core Laboratories (NYSE:CLB – Get Rating) last released its earnings results on Wednesday, July 27th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.02). The firm had revenue of $120.90 million during the quarter, compared to analysts’ expectations of $121.35 million. Core Laboratories had a return on equity of 16.12% and a net margin of 1.82%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 earnings per share. As a group, equities analysts forecast that Core Laboratories will post 0.6 earnings per share for the current year.
Core Laboratories Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 29th. Stockholders of record on Monday, August 8th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, August 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. Core Laboratories’s payout ratio is 21.05%.
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. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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