Tidal Investments LLC Increases Stock Position in Core Laboratories Inc. (NYSE:CLB)

Tidal Investments LLC raised its position in Core Laboratories Inc. (NYSE:CLB) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,862 shares of the oil and gas company’s stock after acquiring an additional 716 shares during the quarter. Tidal Investments LLC’s holdings in Core Laboratories were worth $813,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CLB. Headlands Technologies LLC bought a new stake in shares of Core Laboratories in the second quarter worth about $36,000. nVerses Capital LLC purchased a new stake in Core Laboratories in the 3rd quarter worth approximately $48,000. GAMMA Investing LLC grew its position in shares of Core Laboratories by 33.0% in the 3rd quarter. GAMMA Investing LLC now owns 5,885 shares of the oil and gas company’s stock worth $109,000 after buying an additional 1,460 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Core Laboratories by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 600 shares during the period. Finally, Signaturefd LLC raised its holdings in shares of Core Laboratories by 12.8% during the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 767 shares in the last quarter. 97.81% of the stock is owned by institutional investors.

Core Laboratories Trading Down 4.4 %

NYSE CLB opened at $16.85 on Friday. The firm has a market capitalization of $791.11 million, a PE ratio of 25.92, a P/E/G ratio of 1.36 and a beta of 2.35. The stock’s 50 day moving average is $19.62 and its 200 day moving average is $19.67. Core Laboratories Inc. has a twelve month low of $13.82 and a twelve month high of $25.13. The company has a quick ratio of 1.79, a current ratio of 2.48 and a debt-to-equity ratio of 0.55.

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

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 4th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. The ex-dividend date of this dividend was Monday, November 4th. Core Laboratories’s dividend payout ratio (DPR) is presently 6.15%.

Analyst Ratings Changes

Several analysts recently weighed in on CLB shares. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup cut their target price on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

Core Laboratories Profile

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.