Connable Office Inc. Acquires 2,569 Shares of Core Laboratories Inc. (NYSE:CLB)

Connable Office Inc. boosted its holdings in Core Laboratories Inc. (NYSE:CLB) by 18.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,793 shares of the oil and gas company’s stock after purchasing an additional 2,569 shares during the period. Connable Office Inc.’s holdings in Core Laboratories were worth $311,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CLB. Oppenheimer & Co. Inc. boosted its stake in shares of Core Laboratories by 39.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 14,137 shares of the oil and gas company’s stock worth $241,000 after buying an additional 4,000 shares during the last quarter. Sei Investments Co. boosted its position in Core Laboratories by 91.8% during the first quarter. Sei Investments Co. now owns 36,303 shares of the oil and gas company’s stock valued at $620,000 after purchasing an additional 17,371 shares during the last quarter. Vanguard Group Inc. grew its stake in Core Laboratories by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock valued at $92,096,000 after purchasing an additional 27,701 shares in the last quarter. Platinum Investment Management Ltd. increased its position in shares of Core Laboratories by 13.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 774 shares during the last quarter. Finally, Ariel Investments LLC raised its stake in shares of Core Laboratories by 20.4% during the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after purchasing an additional 1,837,258 shares in the last quarter. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Price Performance

Shares of CLB opened at $19.96 on Friday. The company’s 50-day moving average is $18.88 and its 200-day moving average is $19.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. The firm has a market capitalization of $937.12 million, a PE ratio of 30.71, a PEG ratio of 1.40 and a beta of 2.35. Core Laboratories Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $25.13.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The firm had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $134.16 million. During the same period in the prior year, the firm earned $0.22 EPS. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Core Laboratories Inc. will post 0.77 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio (DPR) is currently 6.15%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CLB. Stifel Nicolaus boosted their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, Citigroup reduced their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.00.

Core Laboratories Company 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.