Kayne Anderson Rudnick Investment Management LLC Has $199.90 Million Holdings in Core Laboratories N.V. (CLB)
Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of Core Laboratories N.V. (NYSE:CLB) by 19.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,025,357 shares of the oil and gas company’s stock after buying an additional 323,357 shares during the period. Core Laboratories N.V. accounts for about 1.8% of Kayne Anderson Rudnick Investment Management LLC’s investment portfolio, making the stock its 12th biggest holding. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.59% of Core Laboratories N.V. worth $199,904,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of CLB. Parallel Advisors LLC lifted its holdings in Core Laboratories N.V. by 13.1% during the second quarter. Parallel Advisors LLC now owns 1,008 shares of the oil and gas company’s stock worth $101,000 after buying an additional 117 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Core Laboratories N.V. by 63.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock worth $114,000 after buying an additional 439 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in Core Laboratories N.V. during the second quarter worth $134,000. Advisory Services Network LLC lifted its holdings in Core Laboratories N.V. by 33.3% during the second quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock worth $138,000 after buying an additional 341 shares during the period. Finally, First Bank & Trust lifted its holdings in Core Laboratories N.V. by 5.8% during the second quarter. First Bank & Trust now owns 1,493 shares of the oil and gas company’s stock worth $152,000 after buying an additional 82 shares during the period.
Core Laboratories N.V. (NYSE:CLB) traded down $2.96 during midday trading on Wednesday, hitting $101.34. The company had a trading volume of 558,500 shares, compared to its average volume of 558,552. 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 N.V. has a 52-week low of $86.55 and a 52-week high of $125.83. The firm has a market cap of $4,604.57, a P/E ratio of 56.99 and a beta of 1.57.
Core Laboratories N.V. (NYSE:CLB) last released its earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. Core Laboratories N.V. 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 the consensus estimate of $160.94 million. During the same period in the prior year, the firm earned $0.38 EPS. The firm’s revenue was up 1.4% on a year-over-year basis. sell-side analysts predict that Core Laboratories N.V. will post 1.99 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Friday, October 20th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Thursday, October 19th. Core Laboratories N.V.’s payout ratio is 126.44%.
Several analysts have recently commented on the company. BidaskClub lowered Core Laboratories N.V. from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. ValuEngine upgraded Core Laboratories N.V. from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research lowered Core Laboratories N.V. from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. Morgan Stanley decreased their price objective on Core Laboratories N.V. from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Monday, August 7th. Finally, Deutsche Bank AG assumed coverage on Core Laboratories N.V. in a report on Tuesday, October 10th. They set a “buy” rating and a $109.00 price objective for the company. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $108.64.
About Core Laboratories N.V.
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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