Baird Financial Group Inc. Sells 21,778 Shares of Core Laboratories (NYSE:CLB)

Baird Financial Group Inc. trimmed its stake in Core Laboratories (NYSE:CLBGet Rating) by 65.0% in the second quarter, HoldingsChannel.com reports. The firm owned 11,714 shares of the oil and gas company’s stock after selling 21,778 shares during the period. Baird Financial Group Inc.’s holdings in Core Laboratories were worth $232,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in Core Laboratories by 103.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the oil and gas company’s stock valued at $30,000 after purchasing an additional 780 shares during the period. Captrust Financial Advisors increased its holdings in Core Laboratories by 185.7% in the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 1,237 shares during the period. Whittier Trust Co. increased its holdings in Core Laboratories by 47.3% in the second quarter. Whittier Trust Co. now owns 4,436 shares of the oil and gas company’s stock valued at $88,000 after purchasing an additional 1,425 shares during the period. US Bancorp DE increased its holdings in Core Laboratories by 15.3% in the first quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 790 shares during the period. Finally, FORA Capital LLC acquired a new stake in Core Laboratories in the first quarter valued at $200,000. 98.22% of the stock is currently owned by institutional investors and hedge funds.

Core Laboratories Stock Performance

Shares of CLB opened at $20.99 on Thursday. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.23 and a quick ratio of 1.61. The stock has a 50-day moving average of $18.18 and a 200-day moving average of $19.53. The company has a market cap of $973.33 million, a PE ratio of 63.61, a P/E/G ratio of 1.17 and a beta of 2.63. Core Laboratories has a one year low of $13.19 and a one year high of $35.83.

Core Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 28th. Stockholders of record on Monday, November 7th will be paid a $0.01 dividend. The ex-dividend date is Friday, November 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. Core Laboratories’s dividend payout ratio is presently 12.12%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CLB. StockNews.com began coverage on Core Laboratories in a report on Wednesday, October 12th. They set a “hold” rating for the company. Citigroup upgraded Core Laboratories from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $24.00 to $17.00 in a report on Thursday, October 6th. Finally, Morgan Stanley downgraded Core Laboratories from an “equal weight” rating to an “underweight” rating and set a $20.00 price target for the company. in a report on Monday, September 26th.

About Core Laboratories

(Get Rating)

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.

See Also

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Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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