Quantbot Technologies LP Acquires New Stake in Core Laboratories Inc. (NYSE:CLB)

Quantbot Technologies LP purchased a new stake in Core Laboratories Inc. (NYSE:CLB) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 11,360 shares of the oil and gas company’s stock, valued at approximately $211,000.

A number of other institutional investors have also recently made changes to their positions in CLB. Headlands Technologies LLC acquired a new stake in shares of Core Laboratories during the second quarter worth $36,000. nVerses Capital LLC bought a new position in shares of Core Laboratories in the 3rd quarter worth about $48,000. GAMMA Investing LLC lifted its stake in shares of Core Laboratories by 23.9% in the 2nd quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock valued at $90,000 after purchasing an additional 855 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Core Laboratories by 11.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock valued at $114,000 after purchasing an additional 600 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Core Laboratories by 12.8% during the 2nd quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 767 shares in the last quarter. Institutional investors own 97.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CLB shares. Citigroup lowered their target price on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Core Laboratories Trading Down 1.5 %

Shares of CLB stock opened at $19.86 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48. The company has a market capitalization of $932.43 million, a price-to-earnings ratio of 31.03, a PEG ratio of 1.39 and a beta of 2.35. Core Laboratories Inc. has a 52-week low of $13.82 and a 52-week high of $25.13. The company has a 50-day simple moving average of $19.59 and a two-hundred day simple moving average of $19.61.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period last year, the business posted $0.22 earnings per share. Core Laboratories’s revenue was up 7.2% on a year-over-year basis. Research analysts anticipate that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 4th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. Core Laboratories’s dividend payout ratio (DPR) is presently 6.15%.

About Core Laboratories

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.