Confluence Investment Management LLC Has $2.36 Million Stock Holdings in Core Laboratories Inc. (NYSE:CLB)

Confluence Investment Management LLC increased its position in shares of Core Laboratories Inc. (NYSE:CLB) by 0.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 136,359 shares of the oil and gas company’s stock after purchasing an additional 599 shares during the period. Confluence Investment Management LLC’s holdings in Core Laboratories were worth $2,360,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in shares of Core Laboratories during the second quarter worth approximately $36,000. nVerses Capital LLC bought a new stake in Core Laboratories during the 3rd quarter valued at $48,000. GAMMA Investing LLC raised its holdings in 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 worth $109,000 after buying an additional 1,460 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 valued at $114,000 after buying an additional 600 shares in the last quarter. Finally, Isthmus Partners LLC grew its holdings in shares of Core Laboratories by 18.8% during the third quarter. Isthmus Partners LLC now owns 10,620 shares of the oil and gas company’s stock valued at $197,000 after buying an additional 1,682 shares during the last quarter. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Stock Up 5.5 %

Core Laboratories stock opened at $18.26 on Friday. Core Laboratories Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48. The firm’s 50-day simple moving average is $19.37 and its 200 day simple moving average is $19.60. The stock has a market cap of $857.31 million, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.36 and a beta of 2.35.

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

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Monday, November 4th. Core Laboratories’s dividend payout ratio is presently 6.15%.

Analyst Ratings Changes

A number of research firms recently weighed in on CLB. Citigroup lowered their target price on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. 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 data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.