Moors & Cabot Inc. Lowers Stock Position in Core Laboratories Inc. (NYSE:CLB)

Moors & Cabot Inc. trimmed its holdings in shares of Core Laboratories Inc. (NYSE:CLB) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 74,401 shares of the oil and gas company’s stock after selling 1,130 shares during the period. Moors & Cabot Inc.’s holdings in Core Laboratories were worth $1,379,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sei Investments Co. increased its holdings in Core Laboratories by 91.8% in the first quarter. Sei Investments Co. now owns 36,303 shares of the oil and gas company’s stock valued at $620,000 after buying an additional 17,371 shares in the last quarter. Vanguard Group Inc. increased its stake in Core Laboratories by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock valued at $92,096,000 after purchasing an additional 27,701 shares in the last quarter. PEAK6 Investments LLC raised its holdings in Core Laboratories by 106.5% during the first quarter. PEAK6 Investments LLC now owns 61,005 shares of the oil and gas company’s stock worth $1,042,000 after purchasing an additional 31,459 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Core Laboratories by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,450 shares of the oil and gas company’s stock worth $469,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Gendell Jeffrey L grew its holdings in Core Laboratories by 101.7% in the first quarter. Gendell Jeffrey L now owns 326,890 shares of the oil and gas company’s stock valued at $5,583,000 after purchasing an additional 164,797 shares during the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on CLB. Stifel Nicolaus boosted their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Finally, 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 research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $17.00.

Core Laboratories Stock Performance

NYSE CLB opened at $21.12 on Friday. Core Laboratories Inc. has a twelve month low of $13.82 and a twelve 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. The business’s 50-day moving average price is $19.18 and its 200 day moving average price is $19.38. The company has a market capitalization of $991.58 million, a PE ratio of 32.49, a price-to-earnings-growth ratio of 1.38 and a beta of 2.35.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period in the previous year, the firm earned $0.22 earnings per share. Core Laboratories’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts predict that Core Laboratories Inc. will post 0.77 earnings per share for the current year.

Core Laboratories Dividend Announcement

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