PNC Financial Services Group Inc. Trims Position in Core Laboratories Inc. (NYSE:CLB)

PNC Financial Services Group Inc. lowered its stake in shares of Core Laboratories Inc. (NYSE:CLB) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,857 shares of the oil and gas company’s stock after selling 1,820 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Core Laboratories were worth $396,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Core Laboratories by 2.9% in the 3rd quarter. State Street Corp now owns 1,975,016 shares of the oil and gas company’s stock valued at $36,597,000 after purchasing an additional 56,187 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Core Laboratories by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,053,204 shares of the oil and gas company’s stock worth $19,521,000 after purchasing an additional 7,721 shares during the period. Boston Trust Walden Corp grew its position in Core Laboratories by 2.7% in the 4th quarter. Boston Trust Walden Corp now owns 617,336 shares of the oil and gas company’s stock valued at $10,686,000 after buying an additional 16,503 shares during the last quarter. Barclays PLC increased its stake in Core Laboratories by 288.2% in the 3rd quarter. Barclays PLC now owns 83,570 shares of the oil and gas company’s stock valued at $1,549,000 after buying an additional 62,042 shares during the period. Finally, Principal Financial Group Inc. raised its position in Core Laboratories by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 229,096 shares of the oil and gas company’s stock worth $3,966,000 after buying an additional 6,827 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Analysts Set New Price Targets

Separately, Citigroup upgraded shares of Core Laboratories from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $15.00 to $16.00 in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $17.50.

Core Laboratories Trading Up 0.2 %

Shares of CLB stock opened at $15.40 on Friday. The business’s fifty day moving average price is $16.85 and its 200 day moving average price is $18.21. The firm has a market capitalization of $721.32 million, a PE ratio of 23.34, a P/E/G ratio of 0.99 and a beta of 2.38. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.71. Core Laboratories Inc. has a 1-year low of $12.95 and a 1-year high of $25.13.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. As a group, sell-side analysts forecast that Core Laboratories Inc. will post 0.96 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, February 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. Core Laboratories’s payout ratio is 6.06%.

About Core Laboratories

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.