Oppenheimer Asset Management Inc. Has $1 Million Holdings in Core Laboratories Inc. (NYSE:CLB)

Oppenheimer Asset Management Inc. cut its stake in shares of Core Laboratories Inc. (NYSE:CLB) by 10.6% in the fourth quarter, Holdings Channel reports. The firm owned 57,746 shares of the oil and gas company’s stock after selling 6,836 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Core Laboratories were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Disciplined Growth Investors Inc. MN grew its stake in shares of Core Laboratories by 26.7% during the third quarter. Disciplined Growth Investors Inc. MN now owns 5,653,591 shares of the oil and gas company’s stock worth $104,761,000 after purchasing an additional 1,192,871 shares during the period. State Street Corp lifted its holdings in Core Laboratories by 2.9% during the third quarter. State Street Corp now owns 1,975,016 shares of the oil and gas company’s stock worth $36,597,000 after acquiring an additional 56,187 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Core Laboratories by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,053,204 shares of the oil and gas company’s stock worth $19,521,000 after acquiring an additional 7,721 shares in the last quarter. Royce & Associates LP lifted its holdings in Core Laboratories by 9.0% during the third quarter. Royce & Associates LP now owns 1,021,121 shares of the oil and gas company’s stock worth $18,921,000 after acquiring an additional 84,022 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in Core Laboratories by 19.5% during the third quarter. Fisher Asset Management LLC now owns 990,267 shares of the oil and gas company’s stock worth $18,350,000 after acquiring an additional 161,278 shares in the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CLB shares. Citigroup lifted their target price on Core Laboratories from $14.00 to $15.00 and gave the stock a “sell” rating in a report on Thursday, February 20th. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $17.25.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $13.82 on Wednesday. The firm has a market cap of $647.15 million, a price-to-earnings ratio of 20.94, a price-to-earnings-growth ratio of 0.99 and a beta of 2.38. The stock’s 50-day moving average is $17.54 and its 200-day moving average is $18.53. Core Laboratories Inc. has a one year low of $13.43 and a one year high of $25.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.71.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. Equities analysts predict that Core Laboratories Inc. will post 0.96 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a $0.01 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.29%. Core Laboratories’s dividend payout ratio (DPR) is 6.06%.

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.