Oppenheimer Asset Management Inc. Trims Position in Core Laboratories Inc. (NYSE:CLB)

Oppenheimer Asset Management Inc. lessened its stake in shares of Core Laboratories Inc. (NYSE:CLBFree Report) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,372 shares of the oil and gas company’s stock after selling 6,965 shares during the period. Oppenheimer Asset Management Inc. owned 0.14% of Core Laboratories worth $1,618,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of CLB. Allspring Global Investments Holdings LLC purchased a new stake in Core Laboratories during the third quarter worth about $31,000. State of Wyoming grew its position in shares of Core Laboratories by 43.1% during the second quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock worth $34,000 after buying an additional 436 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of Core Laboratories by 9,913.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,502 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,487 shares in the last quarter. Signaturefd LLC grew its position in shares of Core Laboratories by 33.1% during the second quarter. Signaturefd LLC now owns 1,590 shares of the oil and gas company’s stock worth $37,000 after buying an additional 395 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in shares of Core Laboratories by 185.7% during the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock worth $60,000 after buying an additional 1,237 shares in the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Stock Performance

Shares of CLB opened at $14.93 on Wednesday. The company has a current ratio of 2.55, a quick ratio of 1.73 and a debt-to-equity ratio of 0.70. The stock has a market cap of $697.59 million, a P/E ratio of 17.36, a PEG ratio of 0.47 and a beta of 2.41. The company has a 50-day moving average of $16.98 and a two-hundred day moving average of $20.98. Core Laboratories Inc. has a 12-month low of $14.27 and a 12-month high of $27.94.

Core Laboratories (NYSE:CLBGet Free Report) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $128.21 million for the quarter, compared to analyst estimates of $127.80 million. Core Laboratories had a return on equity of 15.12% and a net margin of 8.03%. During the same quarter in the previous year, the firm posted $0.23 EPS. As a group, research analysts predict that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 4th. Shareholders of record on Monday, February 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend is Friday, February 9th. Core Laboratories’s payout ratio is 4.65%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. TheStreet cut Core Laboratories from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Core Laboratories from $21.00 to $17.00 and set a “hold” rating for the company in a research report on Monday. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $19.88.

Check Out Our Latest Research Report on Core Laboratories

Core Laboratories Company Profile

(Free Report)

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

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