US Bancorp DE Reduces Position in Core Laboratories Inc. (NYSE:CLB)

US Bancorp DE trimmed its position in Core Laboratories Inc. (NYSE:CLB) by 5.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,689 shares of the oil and gas company’s stock after selling 572 shares during the period. US Bancorp DE’s holdings in Core Laboratories were worth $198,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new position in Core Laboratories during the 3rd quarter valued at about $48,000. BWM Planning LLC purchased a new position in shares of Core Laboratories during the third quarter valued at approximately $1,205,000. GAMMA Investing LLC increased its stake in shares of Core Laboratories by 33.0% during the third quarter. GAMMA Investing LLC now owns 5,885 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,460 shares during the period. SG Americas Securities LLC raised its holdings in shares of Core Laboratories by 184.6% during the third quarter. SG Americas Securities LLC now owns 69,740 shares of the oil and gas company’s stock valued at $1,292,000 after acquiring an additional 45,232 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Core Laboratories by 11.9% in 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 acquiring an additional 600 shares during the period. 97.81% of the stock is currently owned by institutional investors.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $19.96 on Friday. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.13. The firm has a market capitalization of $937.12 million, a P/E ratio of 30.71, a P/E/G ratio of 1.46 and a beta of 2.35. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $18.88 and a two-hundred day simple moving average of $19.24.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $134.16 million. During the same period last year, the business earned $0.22 EPS. Core Laboratories’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities analysts forecast that Core Laboratories Inc. will post 0.77 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

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

Analysts Set New Price Targets

CLB has been the topic of a number of research analyst reports. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Citigroup lowered their price objective on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $17.00.

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.