UBS Group AG Decreases Stake in Carbo Ceramics, Inc. (CRR)

UBS Group AG lowered its position in shares of Carbo Ceramics, Inc. (NYSE:CRR) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,100 shares of the oil and gas company’s stock after selling 1,391 shares during the period. UBS Group AG owned approximately 0.05% of Carbo Ceramics worth $184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRR. Wells Fargo & Company MN boosted its position in Carbo Ceramics by 4.4% in the first quarter. Wells Fargo & Company MN now owns 1,017,803 shares of the oil and gas company’s stock valued at $13,272,000 after buying an additional 43,149 shares during the period. Van ECK Associates Corp boosted its position in Carbo Ceramics by 11.6% in the first quarter. Van ECK Associates Corp now owns 215,190 shares of the oil and gas company’s stock valued at $2,806,000 after buying an additional 22,336 shares during the period. Diversified Investment Strategies LLC boosted its position in Carbo Ceramics by 0.8% in the first quarter. Diversified Investment Strategies LLC now owns 83,897 shares of the oil and gas company’s stock valued at $1,094,000 after buying an additional 625 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Carbo Ceramics by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 18,816 shares of the oil and gas company’s stock valued at $245,000 after buying an additional 2,840 shares during the period. Finally, Norges Bank purchased a new position in shares of Carbo Ceramics during the fourth quarter valued at about $1,235,000. 82.46% of the stock is owned by institutional investors.

Shares of Carbo Ceramics, Inc. (NYSE CRR) opened at 6.36 on Friday. Carbo Ceramics, Inc. has a 12 month low of $5.66 and a 12 month high of $16.70. The firm’s market capitalization is $172.65 million. The firm’s 50-day moving average price is $6.81 and its 200-day moving average price is $9.50.

Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.86) by $0.07. Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The business had revenue of $43.57 million for the quarter, compared to the consensus estimate of $36.50 million. During the same period in the previous year, the firm earned ($0.88) EPS. The company’s revenue was up 111.0% compared to the same quarter last year. On average, equities analysts anticipate that Carbo Ceramics, Inc. will post ($3.61) earnings per share for the current year.

Several equities research analysts have weighed in on CRR shares. Zacks Investment Research lowered Carbo Ceramics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 2nd. ValuEngine raised Carbo Ceramics from a “strong sell” rating to a “sell” rating in a research report on Tuesday, July 25th. Morgan Stanley reissued an “underweight” rating and set a $5.00 price target (down from $7.50) on shares of Carbo Ceramics in a report on Wednesday, June 21st. Scotiabank set a $12.00 price target on Carbo Ceramics and gave the company a “hold” rating in a report on Friday, July 28th. Finally, Cowen and Company lowered their price target on Carbo Ceramics from $15.00 to $10.50 and set a “market perform” rating on the stock in a report on Wednesday, May 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $11.06.

Carbo Ceramics Company Profile

CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.