Swiss National Bank Increases Stock Position in Core Laboratories Inc. (NYSE:CLB)

Swiss National Bank increased its position in Core Laboratories Inc. (NYSE:CLB – Get Rating) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 111,800 shares of the oil and gas company’s stock after purchasing an additional 2,400 shares during the quarter. Swiss National Bank owned 0.24% of Core Laboratories worth $2,266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. California State Teachers Retirement System boosted its stake in Core Laboratories by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company’s stock valued at $1,253,000 after acquiring an additional 481 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of Core Laboratories by 3.9% in the 4th quarter. Arizona State Retirement System now owns 13,071 shares of the oil and gas company’s stock worth $265,000 after acquiring an additional 487 shares during the period. US Bancorp DE increased its holdings in shares of Core Laboratories by 15.3% in the 1st quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock worth $188,000 after acquiring an additional 790 shares during the period. Captrust Financial Advisors increased its holdings in shares of Core Laboratories by 185.7% in the 1st quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 1,237 shares during the period. Finally, Ridgewood Investments LLC increased its holdings in shares of Core Laboratories by 4.3% in the 4th quarter. Ridgewood Investments LLC now owns 30,499 shares of the oil and gas company’s stock worth $618,000 after acquiring an additional 1,247 shares during the period. 97.44% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Stock Performance

NYSE:CLB opened at $22.87 on Friday. The company has a current ratio of 2.38, a quick ratio of 1.68 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 firm has a market cap of $1.07 billion, a price-to-earnings ratio of 45.74, a price-to-earnings-growth ratio of 0.61 and a beta of 2.67. The company has a 50-day moving average of $21.83 and a 200-day moving average of $22.17.

Core Laboratories Announces Dividend

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

Analyst Ratings Changes

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

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.