Congress Wealth Management LLC DE Raises Holdings in Core Laboratories Inc. (NYSE:CLB)

Congress Wealth Management LLC DE lifted its holdings in Core Laboratories Inc. (NYSE:CLB) by 40.8% during the first quarter, Holdings Channel reports. The institutional investor owned 183,282 shares of the oil and gas company’s stock after purchasing an additional 53,090 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Core Laboratories were worth $3,130,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CLB. Deutsche Bank AG boosted its position in shares of Core Laboratories by 18.2% during the 3rd quarter. Deutsche Bank AG now owns 27,524 shares of the oil and gas company’s stock worth $661,000 after purchasing an additional 4,247 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Core Laboratories by 72.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,017 shares of the oil and gas company’s stock worth $144,000 after buying an additional 2,533 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Core Laboratories by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 328,435 shares of the oil and gas company’s stock worth $7,886,000 after buying an additional 93,354 shares during the period. Invesco Ltd. grew its position in Core Laboratories by 25.3% during the third quarter. Invesco Ltd. now owns 436,459 shares of the oil and gas company’s stock worth $10,479,000 after buying an additional 88,013 shares during the period. Finally, Toroso Investments LLC increased its holdings in Core Laboratories by 6.9% in the third quarter. Toroso Investments LLC now owns 38,348 shares of the oil and gas company’s stock valued at $921,000 after buying an additional 2,480 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Stifel Nicolaus boosted their price target on Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Bank of America decreased their target price on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.75.

Core Laboratories Trading Down 1.5 %

Shares of Core Laboratories stock opened at $19.99 on Tuesday. Core Laboratories Inc. has a 1 year low of $13.82 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.68 and a quick ratio of 1.85. The business has a 50 day moving average price of $17.89 and a 200 day moving average price of $16.88. The company has a market capitalization of $937.53 million, a P/E ratio of 22.72, a P/E/G ratio of 1.28 and a beta of 2.41.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The company had revenue of $129.64 million during the quarter, compared to analysts’ expectations of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. Sell-side analysts anticipate that Core Laboratories Inc. will post 0.73 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date of this dividend was Friday, May 3rd. Core Laboratories’s dividend payout ratio is presently 4.55%.

Core Laboratories 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.