Schwab Charles Investment Management Inc. increased its stake in Carbo Ceramics, Inc. (NYSE:CRR) by 15.4% during the first quarter, Holdings Channel reports. The fund owned 300,682 shares of the oil and gas company’s stock after buying an additional 40,192 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Carbo Ceramics were worth $3,921,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tieton Capital Management LLC bought a new stake in shares of Carbo Ceramics during the first quarter valued at approximately $3,037,000. Sprott Inc. bought a new stake in shares of Carbo Ceramics during the first quarter valued at approximately $2,412,000. IronBridge Capital Management LP bought a new stake in shares of Carbo Ceramics during the first quarter valued at approximately $2,007,000. Dimensional Fund Advisors LP increased its stake in shares of 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 valued at $4,708,000 after buying an additional 138,831 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Carbo Ceramics during the fourth quarter valued at approximately $1,235,000. 82.46% of the stock is owned by institutional investors and hedge funds.

Shares of Carbo Ceramics, Inc. (CRR) traded up 0.8352% during mid-day trading on Wednesday, hitting $6.4232. 55,506 shares of the stock were exchanged. Carbo Ceramics, Inc. has a 52 week low of $5.66 and a 52 week high of $16.70. The stock’s market capitalization is $174.37 million. The stock’s 50-day moving average is $6.86 and its 200-day moving average is $9.60.

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 consensus estimate of ($0.86) by $0.07. The business had revenue of $43.57 million during the quarter, compared to analysts’ expectations of $36.50 million. Carbo Ceramics had a negative return on equity of 12.72% and a negative net margin of 72.46%. Carbo Ceramics’s revenue for the quarter was up 111.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.88) EPS. Analysts forecast that Carbo Ceramics, Inc. will post ($3.61) earnings per share for the current fiscal year.

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CRR has been the subject of a number of recent research reports. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price objective (down previously from $7.50) on shares of Carbo Ceramics in a report on Wednesday, June 21st. Zacks Investment Research downgraded shares of Carbo Ceramics from a “hold” rating to a “sell” rating in a report on Tuesday, May 2nd. ValuEngine downgraded shares of Carbo Ceramics from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Cowen and Company cut their price objective on shares of Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating for the company in a report on Wednesday, May 10th. Finally, Piper Jaffray Companies set a $9.00 price objective on shares of Carbo Ceramics and gave the company a “hold” rating in a report on Thursday, July 27th. Three investment 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. The company has a consensus rating of “Hold” and an average target price of $11.06.

Carbo Ceramics Company Profile

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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Institutional Ownership by Quarter for Carbo Ceramics (NYSE:CRR)

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