Montag & Caldwell LLC reduced its stake in Core Laboratories N.V. (NYSE:CLB) by 41.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,554 shares of the oil and gas company’s stock after selling 1,806 shares during the period. Montag & Caldwell LLC’s holdings in Core Laboratories N.V. were worth $259,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of CLB. BlackRock Inc. raised its position in Core Laboratories N.V. by 3,736.4% in the first quarter. BlackRock Inc. now owns 1,598,608 shares of the oil and gas company’s stock valued at $184,672,000 after buying an additional 1,556,938 shares during the period. RidgeWorth Capital Management LLC acquired a new position in Core Laboratories N.V. during the first quarter valued at $41,116,000. JPMorgan Chase & Co. raised its position in Core Laboratories N.V. by 63.8% in the first quarter. JPMorgan Chase & Co. now owns 637,065 shares of the oil and gas company’s stock valued at $73,595,000 after buying an additional 248,097 shares during the period. Sei Investments Co. raised its position in Core Laboratories N.V. by 59.0% in the second quarter. Sei Investments Co. now owns 665,817 shares of the oil and gas company’s stock valued at $67,426,000 after buying an additional 247,042 shares during the period. Finally, Clearbridge Investments LLC raised its position in 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 valued at $603,000,000 after buying an additional 190,186 shares during the period.
Core Laboratories N.V. (NYSE:CLB) opened at 92.92 on Friday. The firm has a market cap of $4.10 billion, a P/E ratio of 57.01 and a beta of 1.60. Core Laboratories N.V. has a 1-year low of $92.81 and a 1-year high of $125.83. The firm’s 50-day moving average price is $101.46 and its 200-day moving average price is $108.84.
Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. Core Laboratories N.V. had a net margin of 11.80% and a return on equity of 49.29%. The company had revenue of $163.90 million during the quarter, compared to the consensus estimate of $168.23 million. During the same period in the prior year, the firm earned $0.35 earnings per share. Core Laboratories N.V.’s revenue was up 10.7% on a year-over-year basis. Equities research analysts anticipate that Core Laboratories N.V. will post $2.09 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, July 17th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, July 13th. Core Laboratories N.V.’s dividend payout ratio is 134.15%.
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CLB has been the subject of several research analyst reports. BidaskClub lowered Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Loop Capital raised Core Laboratories N.V. from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $130.00 in a research report on Friday, April 21st. Morgan Stanley reissued an “overweight” rating and issued a $130.00 price objective (down from $150.00) on shares of Core Laboratories N.V. in a research report on Wednesday, June 21st. Piper Jaffray Companies set a $97.00 price objective on Core Laboratories N.V. and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered Core Laboratories N.V. from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $117.17.
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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