Douglas Lane & Associates LLC cut its stake in shares of Core Laboratories N.V. (NYSE:CLB) by 35.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,234 shares of the oil and gas company’s stock after selling 16,358 shares during the period. Douglas Lane & Associates LLC owned about 0.07% of Core Laboratories N.V. worth $3,062,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in CLB. Clearbridge Investments LLC boosted its stake in shares of Core Laboratories N.V. by 3.8% in the first quarter. Clearbridge Investments LLC now owns 5,219,879 shares of the oil and gas company’s stock worth $603,000,000 after buying an additional 190,186 shares during the last quarter. WCM Investment Management CA raised its position in shares of Core Laboratories N.V. by 4.6% in the first quarter. WCM Investment Management CA now owns 4,130,102 shares of the oil and gas company’s stock worth $477,109,000 after buying an additional 181,025 shares during the period. Vanguard Group Inc. raised its position in shares of Core Laboratories N.V. by 3.5% in the first quarter. Vanguard Group Inc. now owns 3,616,058 shares of the oil and gas company’s stock worth $417,726,000 after buying an additional 123,416 shares during the period. Sustainable Growth Advisers LP raised its position in shares of Core Laboratories N.V. by 8.9% in the first quarter. Sustainable Growth Advisers LP now owns 1,713,008 shares of the oil and gas company’s stock worth $197,886,000 after buying an additional 140,378 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Core Laboratories N.V. by 2.8% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,679,724 shares of the oil and gas company’s stock worth $194,042,000 after buying an additional 46,010 shares during the period.
Core Laboratories N.V. (CLB) traded down 1.47% during trading on Friday, reaching $106.28. The company had a trading volume of 169,340 shares. The firm’s 50 day moving average price is $103.54 and its 200 day moving average price is $111.27. Core Laboratories N.V. has a 12-month low of $96.30 and a 12-month high of $125.83. The firm has a market capitalization of $4.70 billion, a PE ratio of 70.38 and a beta of 1.60.
Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 19th. The oil and gas company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. Core Laboratories N.V. had a return on equity of 43.28% and a net margin of 11.10%. The firm had revenue of $157.81 million for the quarter, compared to analyst estimates of $150.44 million. During the same quarter in the previous year, the company posted $0.37 EPS. The business’s revenue was up 2.7% on a year-over-year basis. Analysts anticipate that Core Laboratories N.V. will post $2.18 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 17th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, July 13th. This represents a $2.20 annualized dividend and a dividend yield of 2.04%. Core Laboratories N.V.’s payout ratio is 145.70%.
A number of research analysts have recently commented on CLB shares. Loop Capital upgraded Core Laboratories N.V. from a “hold” rating to a “buy” rating and upped their price target for the stock from $125.00 to $130.00 in a report on Friday, April 21st. Zacks Investment Research lowered Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Tudor Pickering started coverage on Core Laboratories N.V. in a research note on Thursday, March 23rd. They issued a “hold” rating for the company. Morgan Stanley restated an “overweight” rating and issued a $130.00 target price (down from $150.00) on shares of Core Laboratories N.V. in a research note on Wednesday, June 21st. Finally, BidaskClub lowered Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $122.36.
Core Laboratories N.V. Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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