The Manufacturers Life Insurance Company Purchases 3,457 Shares of Core Laboratories Inc. (NYSE:CLB)

The Manufacturers Life Insurance Company grew its position in shares of Core Laboratories Inc. (NYSE:CLB) by 19.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 21,511 shares of the oil and gas company’s stock after acquiring an additional 3,457 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Core Laboratories were worth $399,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its holdings in Core Laboratories by 446.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after buying an additional 3,644,963 shares during the period. Earnest Partners LLC raised its holdings in Core Laboratories by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock valued at $66,682,000 after buying an additional 195,756 shares during the period. Royce & Associates LP raised its holdings in Core Laboratories by 9.0% during the 3rd quarter. Royce & Associates LP now owns 1,021,121 shares of the oil and gas company’s stock valued at $18,921,000 after buying an additional 84,022 shares during the period. Fisher Asset Management LLC raised its holdings in Core Laboratories by 19.5% during the 3rd quarter. Fisher Asset Management LLC now owns 990,267 shares of the oil and gas company’s stock valued at $18,350,000 after buying an additional 161,278 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Core Laboratories by 8.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 516,119 shares of the oil and gas company’s stock valued at $10,472,000 after buying an additional 38,726 shares during the period. 97.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CLB has been the topic of a number of recent analyst reports. Citigroup reduced their target price on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Core Laboratories has a consensus rating of “Hold” and an average price target of $17.00.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $19.44 on Monday. The firm has a market cap of $912.71 million, a P/E ratio of 29.91, a P/E/G ratio of 1.36 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. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.13. The stock’s fifty day moving average price is $19.69 and its 200-day moving average price is $19.69.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $134.40 million for the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 earnings per share. On average, equities research analysts expect that Core Laboratories Inc. will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Core Laboratories’s dividend payout ratio is currently 6.15%.

About Core Laboratories

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.