Oppenheimer & Co. Inc. Reduces Stock Position in Core Laboratories Inc. (NYSE:CLB)

Oppenheimer & Co. Inc. reduced its position in shares of Core Laboratories Inc. (NYSE:CLB) by 28.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,087 shares of the oil and gas company’s stock after selling 4,050 shares during the period. Oppenheimer & Co. Inc.’s holdings in Core Laboratories were worth $187,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Core Laboratories by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock worth $92,096,000 after purchasing an additional 27,701 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in Core Laboratories by 446.8% in the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock worth $90,508,000 after buying an additional 3,644,963 shares in the last quarter. Earnest Partners LLC raised its stake in Core Laboratories by 6.3% in the second quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after buying an additional 195,756 shares in the last quarter. Boston Trust Walden Corp raised its stake in Core Laboratories by 1.3% in the second quarter. Boston Trust Walden Corp now owns 729,760 shares of the oil and gas company’s stock worth $14,807,000 after buying an additional 9,468 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Core Laboratories by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 516,119 shares of the oil and gas company’s stock worth $10,472,000 after buying an additional 38,726 shares in the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Core Laboratories Price Performance

Shares of NYSE CLB opened at $21.28 on Friday. Core Laboratories Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The company has a 50 day simple moving average of $19.27 and a two-hundred day simple moving average of $19.44. The company has a market capitalization of $999.10 million, a price-to-earnings ratio of 32.74, a P/E/G ratio of 1.42 and a beta of 2.35. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The business had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same quarter last year, the firm earned $0.22 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend is Monday, November 4th. Core Laboratories’s dividend payout ratio (DPR) is currently 6.15%.

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.