Morningstar Investment Services LLC bought a new position in Core Laboratories (NYSE:CLB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 384,565 shares of the oil and gas company’s stock, valued at approximately $7,449,000. Morningstar Investment Services LLC owned 0.86% of Core Laboratories at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Marshall Wace LLP acquired a new position in shares of Core Laboratories during the 1st quarter worth about $30,000. Sunbelt Securities Inc. acquired a new position in shares of Core Laboratories during the 4th quarter worth about $4,181,000. Parallel Advisors LLC boosted its stake in shares of Core Laboratories by 74.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,508 shares of the oil and gas company’s stock worth $30,000 after buying an additional 645 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Core Laboratories by 693.6% during the 2nd quarter. Lindbrook Capital LLC now owns 2,738 shares of the oil and gas company’s stock worth $56,000 after buying an additional 2,393 shares during the last quarter. Finally, Advisor Group Holdings Inc. acquired a new position in shares of Core Laboratories during the 1st quarter worth about $32,000.
A number of research firms have recently commented on CLB. TheStreet downgraded shares of Core Laboratories from a “c” rating to a “d” rating in a research note on Wednesday, April 22nd. Royal Bank of Canada restated a “buy” rating on shares of Core Laboratories in a research note on Monday, April 27th. Scotiabank downgraded shares of Core Laboratories from a “sector outperform” rating to a “sector perform” rating and set a $19.00 target price for the company. in a research note on Thursday, July 16th. ValuEngine upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, May 1st. Finally, Piper Sandler raised their target price on shares of Core Laboratories from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, July 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $26.96.
Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.10 by $0.04. The firm had revenue of $115.74 million for the quarter, compared to analysts’ expectations of $115.43 million. Core Laboratories had a negative net margin of 13.39% and a positive return on equity of 46.27%. As a group, research analysts expect that Core Laboratories will post 0.82 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Monday, July 27th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.04 annualized dividend and a yield of 0.19%. Core Laboratories’s dividend payout ratio is currently 2.23%.
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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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