JPMorgan Chase & Co. Increases Position in Core Laboratories Inc. (NYSE:CLB)

JPMorgan Chase & Co. lifted its holdings in shares of Core Laboratories Inc. (NYSE:CLB) by 5.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,281 shares of the oil and gas company’s stock after acquiring an additional 2,267 shares during the quarter. JPMorgan Chase & Co. owned 0.09% of Core Laboratories worth $765,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CLB. The Manufacturers Life Insurance Company increased its position in shares of Core Laboratories by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock valued at $366,000 after purchasing an additional 579 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Core Laboratories by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after buying an additional 600 shares during the last quarter. Tidal Investments LLC raised its position in Core Laboratories by 1.7% in the third quarter. Tidal Investments LLC now owns 43,862 shares of the oil and gas company’s stock worth $813,000 after acquiring an additional 716 shares during the period. GAMMA Investing LLC boosted its stake in Core Laboratories by 33.0% in the third quarter. GAMMA Investing LLC now owns 5,885 shares of the oil and gas company’s stock valued at $109,000 after acquiring an additional 1,460 shares during the last quarter. Finally, Isthmus Partners LLC grew its position in shares of Core Laboratories by 18.8% during the 3rd quarter. Isthmus Partners LLC now owns 10,620 shares of the oil and gas company’s stock valued at $197,000 after acquiring an additional 1,682 shares during the period. 97.81% of the stock is currently owned by institutional investors.

Core Laboratories Stock Performance

Shares of CLB stock opened at $19.48 on Monday. The firm’s 50 day moving average is $19.08 and its 200 day moving average is $19.54. The stock has a market capitalization of $914.59 million, a P/E ratio of 29.97, a PEG ratio of 1.14 and a beta of 2.39. Core Laboratories Inc. has a 12 month low of $13.82 and a 12 month high of $25.13. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CLB shares. Citigroup lowered their price target on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat.com, Core Laboratories currently has a consensus rating of “Hold” and an average target price of $17.00.

Core Laboratories Company Profile

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.