Macquarie Group Ltd. grew its holdings in shares of Core Laboratories (NYSE:CLB) by 1.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,222 shares of the oil and gas company’s stock after buying an additional 1,273 shares during the period. Macquarie Group Ltd. owned approximately 0.31% of Core Laboratories worth $17,066,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of CLB. Fisher Asset Management LLC bought a new position in shares of Core Laboratories during the 1st quarter worth approximately $47,402,000. WCM Investment Management CA boosted its holdings in shares of Core Laboratories by 5.1% during the 1st quarter. WCM Investment Management CA now owns 5,035,827 shares of the oil and gas company’s stock worth $544,977,000 after buying an additional 242,096 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Core Laboratories by 40.1% during the 1st quarter. Sei Investments Co. now owns 638,723 shares of the oil and gas company’s stock worth $69,123,000 after buying an additional 182,848 shares in the last quarter. Arosa Capital Management LP bought a new position in shares of Core Laboratories during the 1st quarter worth approximately $19,074,000. Finally, BlackRock Inc. boosted its holdings in shares of Core Laboratories by 5.5% during the 1st quarter. BlackRock Inc. now owns 3,068,685 shares of the oil and gas company’s stock worth $332,093,000 after buying an additional 158,968 shares in the last quarter.
CLB has been the topic of a number of research analyst reports. Piper Jaffray Companies set a $95.00 price target on Core Laboratories and gave the stock a “hold” rating in a report on Friday, October 5th. Edward Jones initiated coverage on Core Laboratories in a report on Tuesday, September 4th. They set a “buy” rating on the stock. JPMorgan Chase & Co. increased their price target on Core Laboratories from $118.00 to $121.00 and gave the stock an “overweight” rating in a report on Monday, September 17th. Citigroup set a $116.00 price target on Core Laboratories and gave the stock a “hold” rating in a report on Friday, September 14th. Finally, Morgan Stanley initiated coverage on Core Laboratories in a report on Tuesday, September 18th. They set an “equal weight” rating and a $125.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $115.15.
Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.59. Core Laboratories had a return on equity of 64.13% and a net margin of 13.32%. The company had revenue of $175.48 million for the quarter, compared to analyst estimates of $174.47 million. During the same period in the prior year, the firm earned $0.51 earnings per share. Core Laboratories’s revenue for the quarter was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Core Laboratories will post 2.44 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Friday, October 19th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Thursday, October 18th. Core Laboratories’s payout ratio is 110.00%.
About Core Laboratories
Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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