Carbo Ceramics, Inc. (CRR) Shares Bought by Creative Planning
Creative Planning increased its position in shares of Carbo Ceramics, Inc. (NYSE:CRR) by 101.5% during the second quarter, Holdings Channel reports. The institutional investor owned 17,106 shares of the oil and gas company’s stock after buying an additional 8,618 shares during the period. Creative Planning’s holdings in Carbo Ceramics were worth $117,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Tieton Capital Management LLC bought a new stake in Carbo Ceramics during the first quarter worth about $3,037,000. Sprott Inc. bought a new stake in Carbo Ceramics during the first quarter worth about $2,412,000. IronBridge Capital Management LP bought a new stake in Carbo Ceramics during the first quarter worth about $2,007,000. Dimensional Fund Advisors LP boosted its stake in Carbo Ceramics by 62.5% in the first quarter. Dimensional Fund Advisors LP now owns 361,011 shares of the oil and gas company’s stock worth $4,708,000 after buying an additional 138,831 shares in the last quarter. Finally, Norges Bank bought a new stake in Carbo Ceramics during the fourth quarter worth about $1,235,000. 82.46% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Carbo Ceramics, Inc. (CRR) traded down 3.77% during midday trading on Wednesday, reaching $6.13. 221,238 shares of the company’s stock traded hands. The stock’s 50 day moving average is $6.86 and its 200-day moving average is $9.60. Carbo Ceramics, Inc. has a 52 week low of $5.66 and a 52 week high of $16.70. The company’s market capitalization is $166.41 million.
Carbo Ceramics (NYSE:CRR) last posted its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.07. The firm had revenue of $43.57 million during the quarter, compared to analyst estimates of $36.50 million. Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The firm’s revenue for the quarter was up 111.0% on a year-over-year basis. During the same period last year, the company posted ($0.88) EPS. On average, analysts forecast that Carbo Ceramics, Inc. will post ($3.61) earnings per share for the current fiscal year.
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A number of equities research analysts recently issued reports on CRR shares. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price target (down previously from $7.50) on shares of Carbo Ceramics in a research note on Wednesday, June 21st. Zacks Investment Research cut shares of Carbo Ceramics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 2nd. ValuEngine cut shares of Carbo Ceramics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Cowen and Company lowered their target price on shares of Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating on the stock in a research note on Wednesday, May 10th. Finally, Piper Jaffray Companies set a $9.00 target price on shares of Carbo Ceramics and gave the stock a “hold” rating in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Carbo Ceramics has an average rating of “Hold” and a consensus price target of $11.06.
About Carbo Ceramics
CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.
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