Arizona State Retirement System Purchases 487 Shares of Core Laboratories Inc. (NYSE:CLB)

Arizona State Retirement System lifted its position in shares of Core Laboratories Inc. (NYSE:CLB – Get Rating) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 13,071 shares of the oil and gas company’s stock after buying an additional 487 shares during the quarter. Arizona State Retirement System’s holdings in Core Laboratories were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ariel Investments LLC boosted its holdings in Core Laboratories by 5.1% in the first quarter. Ariel Investments LLC now owns 8,198,544 shares of the oil and gas company’s stock valued at $259,320,000 after acquiring an additional 394,237 shares during the last quarter. State Street Corp boosted its holdings in Core Laboratories by 18.6% in the first quarter. State Street Corp now owns 1,348,572 shares of the oil and gas company’s stock valued at $42,663,000 after acquiring an additional 211,873 shares during the last quarter. Congress Asset Management Co. MA boosted its holdings in Core Laboratories by 37.9% in the third quarter. Congress Asset Management Co. MA now owns 700,708 shares of the oil and gas company’s stock valued at $9,446,000 after acquiring an additional 192,579 shares during the last quarter. Wintrust Investments LLC boosted its holdings in Core Laboratories by 91.5% in the third quarter. Wintrust Investments LLC now owns 365,835 shares of the oil and gas company’s stock valued at $4,931,000 after acquiring an additional 174,811 shares during the last quarter. Finally, CWA Asset Management Group LLC acquired a new position in Core Laboratories in the fourth quarter valued at approximately $2,630,000. 97.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CLB shares. StockNews.com started coverage on Core Laboratories in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Piper Sandler boosted their price target on Core Laboratories from $18.00 to $19.00 in a research note on Monday, May 1st. Citigroup boosted their price target on Core Laboratories from $21.00 to $26.00 and gave the company a “neutral” rating in a research note on Tuesday, February 7th. Stifel Nicolaus boosted their price target on Core Laboratories from $24.00 to $25.00 in a research note on Friday, April 28th. Finally, Bank of America lowered Core Laboratories from a “neutral” rating to an “underperform” rating and set a $21.50 price target on the stock. in a research note on Tuesday, April 18th. They noted that the move was a valuation call.

Core Laboratories Price Performance

Shares of NYSE:CLB opened at $24.05 on Wednesday. The company has a quick ratio of 1.68, a current ratio of 2.38 and a debt-to-equity ratio of 0.90. Core Laboratories Inc. has a twelve month low of $13.19 and a twelve month high of $31.42. The stock’s 50 day moving average is $21.71 and its 200-day moving average is $22.16. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 48.10, a PEG ratio of 0.55 and a beta of 2.67.

Core Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 30th. Stockholders of record on Monday, May 8th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.17%. The ex-dividend date is Friday, May 5th. Core Laboratories’s payout ratio is 8.00%.

Core Laboratories Profile

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Core Laboratories, Inc provides proprietary and patented reservoir description and production enhancement services. The company was founded on May 1, 2023 and is headquartered in Houston, TX.