Bank of America Corp DE reduced its stake in Core Laboratories (NYSE:CLB) by 13.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 354,112 shares of the oil and gas company’s stock after selling 56,165 shares during the quarter. Bank of America Corp DE’s holdings in Core Laboratories were worth $44,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Grandeur Peak Global Advisors LLC raised its position in Core Laboratories by 18.4% in the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 225,596 shares of the oil and gas company’s stock valued at $28,472,000 after buying an additional 35,075 shares during the last quarter. First Republic Investment Management Inc. raised its position in Core Laboratories by 3.5% in the 2nd quarter. First Republic Investment Management Inc. now owns 19,423 shares of the oil and gas company’s stock valued at $2,452,000 after buying an additional 663 shares during the last quarter. Raymond James & Associates raised its position in Core Laboratories by 12.2% in the 2nd quarter. Raymond James & Associates now owns 146,746 shares of the oil and gas company’s stock valued at $18,521,000 after buying an additional 15,915 shares during the last quarter. BB&T Securities LLC raised its position in Core Laboratories by 3.2% in the 2nd quarter. BB&T Securities LLC now owns 22,196 shares of the oil and gas company’s stock valued at $2,801,000 after buying an additional 692 shares during the last quarter. Finally, Baird Financial Group Inc. raised its position in Core Laboratories by 2.5% in the 2nd quarter. Baird Financial Group Inc. now owns 287,044 shares of the oil and gas company’s stock valued at $36,228,000 after buying an additional 7,054 shares during the last quarter.

A number of research firms recently commented on CLB. Morgan Stanley began coverage on Core Laboratories in a research report on Tuesday, September 18th. They issued an “equal weight” rating and a $125.00 price target for the company. JPMorgan Chase & Co. increased their price target on Core Laboratories from $118.00 to $121.00 and gave the company an “overweight” rating in a research report on Monday, September 17th. Citigroup set a $116.00 price target on Core Laboratories and gave the company a “hold” rating in a research report on Friday, September 14th. Stifel Nicolaus began coverage on Core Laboratories in a research report on Monday, September 10th. They issued a “hold” rating and a $117.00 price target for the company. Finally, ValuEngine raised Core Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $116.00.

Shares of NYSE:CLB opened at $112.42 on Tuesday. The firm has a market capitalization of $4.91 billion, a price-to-earnings ratio of 55.93, a price-to-earnings-growth ratio of 3.80 and a beta of 1.50. The company has a quick ratio of 1.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.53. Core Laboratories has a 1 year low of $87.66 and a 1 year high of $130.34.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. The firm had revenue of $175.48 million during the quarter, compared to the consensus estimate of $174.47 million. Core Laboratories had a return on equity of 64.13% and a net margin of 13.32%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.51 EPS. equities analysts forecast that Core Laboratories will post 2.44 EPS for the current fiscal year.

Core Laboratories Company Profile

Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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