Sei Investments Co. Lowers Stake in Core Laboratories Inc. (NYSE:CLB)

Sei Investments Co. lessened its holdings in Core Laboratories Inc. (NYSE:CLB) by 3.1% during the second quarter, Holdings Channel.com reports. The firm owned 35,193 shares of the oil and gas company’s stock after selling 1,110 shares during the quarter. Sei Investments Co.’s holdings in Core Laboratories were worth $714,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Headlands Technologies LLC purchased a new stake in shares of Core Laboratories in the 2nd quarter worth approximately $36,000. CWM LLC boosted 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 worth $61,000 after purchasing an additional 3,300 shares in the last quarter. GAMMA Investing LLC grew its position in Core Laboratories by 31.6% during 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 during the last quarter. Platinum Investment Management Ltd. increased its stake in Core Laboratories by 13.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 774 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Core Laboratories by 12.8% in 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. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Trading Down 4.5 %

Shares of CLB stock opened at $19.21 on Wednesday. The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60. Core Laboratories Inc. has a 12-month low of $13.82 and a 12-month high of $25.13. The stock has a market capitalization of $900.71 million, a P/E ratio of 21.82, a P/E/G ratio of 1.09 and a beta of 2.36. The firm’s 50 day moving average is $19.09 and its 200 day moving average is $18.86.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. Research analysts expect that Core Laboratories Inc. will post 0.8 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Core Laboratories’s dividend payout ratio is currently 4.55%.

Analyst Ratings Changes

CLB has been the topic of a number of recent analyst reports. Piper Sandler cut their price target on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Stifel Nicolaus increased their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Bank of America decreased their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com cut Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Two research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Hold” and an average target price of $18.00.

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.