TIAA CREF Investment Management LLC lowered its position in shares of Carbo Ceramics, Inc. (NYSE:CRR) by 2.8% during the first quarter, Holdings Channel reports. The fund owned 88,554 shares of the oil and gas company’s stock after selling 2,584 shares during the period. TIAA CREF Investment Management LLC’s holdings in Carbo Ceramics were worth $1,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Sprott Inc. bought a new position in shares of Carbo Ceramics during the first quarter worth about $2,412,000. State of Tennessee Treasury Department increased its position in shares of Carbo Ceramics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 18,816 shares of the oil and gas company’s stock worth $245,000 after buying an additional 2,840 shares during the last quarter. Comerica Bank increased its position in shares of Carbo Ceramics by 5.1% in the first quarter. Comerica Bank now owns 23,353 shares of the oil and gas company’s stock worth $157,000 after buying an additional 1,137 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Carbo Ceramics by 170.9% in the first quarter. BNP Paribas Arbitrage SA now owns 12,284 shares of the oil and gas company’s stock worth $160,000 after buying an additional 7,750 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Carbo Ceramics by 5.3% in the first quarter. Bank of New York Mellon Corp now owns 265,174 shares of the oil and gas company’s stock worth $3,459,000 after buying an additional 13,355 shares during the last quarter. 82.46% of the stock is currently owned by institutional investors and hedge funds.

Carbo Ceramics, Inc. (NYSE CRR) traded down 0.78% on Wednesday, hitting $6.32. The stock had a trading volume of 38,738 shares. The company has a 50-day moving average of $6.86 and a 200 day moving average of $9.60. The company’s market cap is $171.57 million. Carbo Ceramics, Inc. has a 12 month low of $5.66 and a 12 month high of $16.70.

Carbo Ceramics (NYSE:CRR) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by $0.07. The firm had revenue of $43.57 million for 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%. The firm’s revenue for the quarter was up 111.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.88) earnings per share. On average, analysts predict that Carbo Ceramics, Inc. will post ($3.61) EPS for the current fiscal year.

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A number of brokerages have issued reports on CRR. Cowen and Company reduced their price objective on shares of Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating on the stock in a research report on Wednesday, May 10th. Zacks Investment Research cut shares of Carbo Ceramics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Carbo Ceramics from a “strong sell” rating to a “sell” rating in a research note on Tuesday, July 25th. Morgan Stanley reiterated 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. Finally, Scotiabank set a $12.00 price target on shares of Carbo Ceramics and gave the stock a “hold” rating in a research note on Friday, July 28th. 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 stock has an average 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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