Ballentine Partners LLC Makes New Investment in Core Laboratories Inc. (NYSE:CLB)

Ballentine Partners LLC purchased a new stake in Core Laboratories Inc. (NYSE:CLB) in the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 10,130 shares of the oil and gas company’s stock, valued at approximately $206,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CLB. Quadrant Capital Group LLC increased its holdings in Core Laboratories by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 1,538 shares in the last quarter. GAMMA Investing LLC increased its stake in Core Laboratories by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 857 shares in the last quarter. CWM LLC increased its stake in Core Laboratories by 1,178.6% in the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 3,300 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Core Laboratories by 19.7% during the first quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 612 shares during the last quarter. Finally, Platinum Investment Management Ltd. boosted its position in Core Laboratories by 43.8% during the fourth quarter. Platinum Investment Management Ltd. now owns 5,577 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 1,698 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Wall Street Analysts Forecast Growth

CLB has been the subject of a number of research analyst reports. Bank of America dropped their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Piper Sandler dropped their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, Stifel Nicolaus lifted their price objective on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, Core Laboratories currently has an average rating of “Hold” and a consensus price target of $18.50.

Core Laboratories Stock Performance

NYSE:CLB opened at $16.65 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68. The firm has a market cap of $780.89 million, a PE ratio of 18.92, a P/E/G ratio of 1.01 and a beta of 2.37. The firm has a 50 day simple moving average of $20.49 and a 200-day simple moving average of $18.45. Core Laboratories Inc. has a 1-year low of $13.82 and a 1-year high of $25.74.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business had revenue of $130.58 million during the quarter, compared to the consensus estimate of $132.85 million. During the same quarter in the previous year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts expect that Core Laboratories Inc. will post 0.79 EPS for the current year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. Core Laboratories’s payout ratio is currently 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.