Oppenheimer Asset Management Inc. Has $1.20 Million Position in Core Laboratories Inc. (NYSE:CLB)

Oppenheimer Asset Management Inc. raised its position in shares of Core Laboratories Inc. (NYSE:CLB) by 18.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,582 shares of the oil and gas company’s stock after purchasing an additional 10,272 shares during the quarter. Oppenheimer Asset Management Inc. owned 0.14% of Core Laboratories worth $1,197,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Headlands Technologies LLC acquired a new position in shares of Core Laboratories in the second quarter worth $36,000. nVerses Capital LLC acquired a new position in shares of Core Laboratories in the third quarter worth $48,000. GAMMA Investing LLC increased its stake in shares of Core Laboratories by 23.9% in the second quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock worth $90,000 after acquiring an additional 855 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in Core Laboratories by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after buying an additional 600 shares during the last quarter. Finally, Signaturefd LLC increased its position in Core Laboratories by 12.8% during the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock worth $137,000 after buying an additional 767 shares during the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.

Core Laboratories Stock Up 0.1 %

CLB stock opened at $19.54 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. 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 moving average of $18.96 and a two-hundred day moving average of $19.34. The stock has a market capitalization of $917.40 million, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 1.36 and a beta of 2.35.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The company had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. During the same period in the prior year, the company earned $0.22 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Core Laboratories Inc. will post 0.77 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, November 4th. Core Laboratories’s payout ratio is presently 6.15%.

Analysts Set New Price Targets

Several research firms have commented on CLB. Stifel Nicolaus increased their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Citigroup lowered their target price on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Core Laboratories Company Profile

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.