Arcadia Investment Management Corp MI Has $3.91 Million Position in Core Laboratories N.V. (CLB)
Arcadia Investment Management Corp MI decreased its position in shares of Core Laboratories N.V. (NYSE:CLB) by 9.1% during the second quarter, Holdings Channel reports. The institutional investor owned 38,647 shares of the oil and gas company’s stock after selling 3,886 shares during the period. Core Laboratories N.V. comprises approximately 1.2% of Arcadia Investment Management Corp MI’s portfolio, making the stock its 29th largest position. Arcadia Investment Management Corp MI’s holdings in Core Laboratories N.V. were worth $3,914,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Parallel Advisors LLC raised its position in shares of Core Laboratories N.V. by 33.4% in the first quarter. Parallel Advisors LLC now owns 891 shares of the oil and gas company’s stock worth $101,000 after buying an additional 223 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Core Laboratories N.V. during the first quarter worth approximately $106,000. Advisory Services Network LLC bought a new position in shares of Core Laboratories N.V. during the first quarter worth approximately $118,000. FNY Managed Accounts LLC bought a new position in shares of Core Laboratories N.V. during the first quarter worth approximately $123,000. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Core Laboratories N.V. during the second quarter worth approximately $134,000.
Shares of Core Laboratories N.V. (NYSE CLB) opened at 90.715 on Tuesday. The company’s 50-day moving average price is $101.27 and its 200 day moving average price is $108.43. The company has a market cap of $4.00 billion, a P/E ratio of 55.653 and a beta of 1.60. Core Laboratories N.V. has a 52 week low of $90.51 and a 52 week high of $125.83.
Core Laboratories N.V. (NYSE:CLB) last announced its quarterly earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $163.90 million for the quarter, compared to the consensus estimate of $168.23 million. Core Laboratories N.V. had a return on equity of 49.29% and a net margin of 11.80%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 earnings per share. On average, equities analysts forecast that Core Laboratories N.V. will post $2.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 17th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend was Thursday, July 13th. Core Laboratories N.V.’s dividend payout ratio (DPR) is presently 134.15%.
CLB has been the topic of a number of analyst reports. Royal Bank Of Canada set a $145.00 price objective on Core Laboratories N.V. and gave the company a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research raised Core Laboratories N.V. from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Monday, June 12th. Loop Capital raised Core Laboratories N.V. from a “hold” rating to a “buy” rating and increased their price objective for the company from $125.00 to $130.00 in a report on Friday, April 21st. BidaskClub raised Core Laboratories N.V. from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Scotiabank set a $136.00 price objective on Core Laboratories N.V. and gave the company a “hold” rating in a report on Saturday, April 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $117.17.
Core Laboratories N.V. Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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