Core Laboratories N.V. (CLB) Position Lifted by Moors & Cabot Inc.
Moors & Cabot Inc. increased its stake in Core Laboratories N.V. (NYSE:CLB) by 22.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,489 shares of the oil and gas company’s stock after purchasing an additional 3,587 shares during the period. Moors & Cabot Inc.’s holdings in Core Laboratories were worth $1,916,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of CLB. Parallel Advisors LLC boosted its stake in Core Laboratories by 13.1% in the second quarter. Parallel Advisors LLC now owns 1,008 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 117 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Core Laboratories by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 439 shares in the last quarter. Advisory Services Network LLC boosted its stake in Core Laboratories by 33.3% in the second quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock valued at $138,000 after buying an additional 341 shares in the last quarter. Toronto Dominion Bank boosted its stake in Core Laboratories by 243.6% in the third quarter. Toronto Dominion Bank now owns 1,866 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 1,323 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Core Laboratories in the second quarter valued at about $203,000.
Several research firms recently weighed in on CLB. Loop Capital set a $115.00 price objective on Core Laboratories and gave the company a “buy” rating in a research note on Thursday, December 7th. Zacks Investment Research lowered Core Laboratories from a “hold” rating to a “sell” rating in a research note on Tuesday, November 7th. UBS reduced their price objective on Core Laboratories from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. ABN Amro raised Core Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Finally, Scotiabank set a $136.00 price objective on Core Laboratories and gave the company a “hold” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.40.
Shares of Core Laboratories N.V. (NYSE CLB) opened at $101.35 on Thursday. Core Laboratories N.V. has a 12 month low of $86.55 and a 12 month high of $125.83. The company has a market capitalization of $4,501.71, a PE ratio of 55.72 and a beta of 1.56. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.81 and a current ratio of 2.18.
Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Monday, October 23rd. The oil and gas company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Core Laboratories had a return on equity of 52.89% and a net margin of 12.06%. The firm had revenue of $166.20 million for the quarter, compared to analyst estimates of $160.94 million. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 1.4% on a year-over-year basis. sell-side analysts anticipate that Core Laboratories N.V. will post 1.99 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Friday, October 20th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, October 19th. Core Laboratories’s payout ratio is 126.44%.
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Core Laboratories 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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