State of New Jersey Common Pension Fund D Grows Position in Core Laboratories Inc. (NYSE:CLB)

State of New Jersey Common Pension Fund D increased its position in Core Laboratories Inc. (NYSE:CLB) by 33.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 138,951 shares of the oil and gas company’s stock after purchasing an additional 34,765 shares during the period. State of New Jersey Common Pension Fund D owned 0.30% of Core Laboratories worth $2,454,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Core Laboratories in the 3rd quarter worth about $31,000. GAMMA Investing LLC purchased a new stake in Core Laboratories in the fourth quarter worth about $48,000. PNC Financial Services Group Inc. increased its stake in shares of Core Laboratories by 72.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,017 shares of the oil and gas company’s stock valued at $144,000 after purchasing an additional 2,533 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Core Laboratories by 31.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,787 shares of the oil and gas company’s stock valued at $259,000 after purchasing an additional 2,566 shares during the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Core Laboratories in the 4th quarter worth approximately $288,000. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Price Performance

NYSE CLB opened at $15.70 on Thursday. Core Laboratories Inc. has a one year low of $13.82 and a one year high of $27.94. The stock has a 50-day moving average of $16.41 and a 200 day moving average of $17.43. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.85 and a current ratio of 2.68. The company has a market capitalization of $736.33 million, a price-to-earnings ratio of 17.85, a PEG ratio of 0.96 and a beta of 2.40.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a net margin of 8.18% and a return on equity of 15.71%. The firm had revenue of $129.64 million during the quarter, compared to analyst estimates of $124.47 million. On average, sell-side analysts forecast that Core Laboratories Inc. will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. Core Laboratories’s payout ratio is 4.55%.

Analyst Ratings Changes

A number of research analysts have issued reports on CLB shares. Stifel Nicolaus lifted their price objective on Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 26th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Finally, Bank of America dropped their target price on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, Core Laboratories currently has a consensus rating of “Hold” and an average price target of $18.75.

About Core Laboratories

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.