Tower Research Capital LLC TRC raised its holdings in shares of Core Laboratories (NYSE:CLB) by 959.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,213 shares of the oil and gas company’s stock after purchasing an additional 4,721 shares during the period. Tower Research Capital LLC TRC’s holdings in Core Laboratories were worth $604,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in CLB. Forte Capital LLC ADV boosted its holdings in shares of Core Laboratories by 18.4% during the third quarter. Forte Capital LLC ADV now owns 20,081 shares of the oil and gas company’s stock valued at $2,325,000 after acquiring an additional 3,125 shares during the period. Motley Fool Wealth Management LLC boosted its holdings in shares of Core Laboratories by 3.6% during the third quarter. Motley Fool Wealth Management LLC now owns 56,974 shares of the oil and gas company’s stock valued at $6,599,000 after acquiring an additional 1,981 shares during the period. Aperio Group LLC boosted its holdings in shares of Core Laboratories by 5.7% during the third quarter. Aperio Group LLC now owns 23,338 shares of the oil and gas company’s stock valued at $2,703,000 after acquiring an additional 1,268 shares during the period. Arizona State Retirement System lifted its holdings in Core Laboratories by 2.5% in the third quarter. Arizona State Retirement System now owns 31,393 shares of the oil and gas company’s stock worth $3,636,000 after purchasing an additional 771 shares during the period. Finally, Royal London Asset Management Ltd. lifted its holdings in Core Laboratories by 8,754.1% in the third quarter. Royal London Asset Management Ltd. now owns 1,520,160 shares of the oil and gas company’s stock worth $171,578,000 after purchasing an additional 1,502,991 shares during the period.
Shares of Core Laboratories stock opened at $75.00 on Friday. The company has a current ratio of 2.31, a quick ratio of 1.85 and a debt-to-equity ratio of 1.83. Core Laboratories has a 52 week low of $74.89 and a 52 week high of $130.34. The stock has a market capitalization of $3.37 billion, a price-to-earnings ratio of 37.50, a price-to-earnings-growth ratio of 2.40 and a beta of 1.65.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.63 by $0.01. Core Laboratories had a net margin of 13.21% and a return on equity of 68.00%. The firm had revenue of $182.15 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the previous year, the business earned $0.46 earnings per share. Core Laboratories’s revenue for the quarter was up 11.8% compared to the same quarter last year. As a group, analysts predict that Core Laboratories will post 2.3 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Friday, October 19th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, October 18th. Core Laboratories’s dividend payout ratio (DPR) is presently 110.00%.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research reaffirmed a “sell” rating on shares of Core Laboratories in a report on Monday, November 12th. ValuEngine raised shares of Core Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Cowen set a $82.00 price objective on shares of Core Laboratories and gave the stock a “hold” rating in a report on Monday, December 3rd. Stifel Nicolaus assumed coverage on shares of Core Laboratories in a report on Monday, September 10th. They issued a “hold” rating and a $117.00 price objective for the company. Finally, Morgan Stanley assumed coverage on shares of Core Laboratories in a report on Tuesday, September 18th. They issued an “equal weight” rating and a $125.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $111.09.
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Core Laboratories Company Profile
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 in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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