Core Laboratories Inc. (NYSE:CLB) Stock Position Lessened by Spectrum Asset Management Inc. NB CA

Spectrum Asset Management Inc. NB CA decreased its position in Core Laboratories Inc. (NYSE:CLB) by 2.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 37,891 shares of the oil and gas company’s stock after selling 1,100 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Core Laboratories were worth $702,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Disciplined Growth Investors Inc. MN raised its position in Core Laboratories by 446.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after buying an additional 3,644,963 shares during the period. Ariel Investments LLC lifted its position in shares of Core Laboratories by 20.4% in 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 acquiring an additional 1,837,258 shares during the period. Earnest Partners LLC lifted its position in shares of Core Laboratories by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after acquiring an additional 195,756 shares during the period. Gendell Jeffrey L lifted its position in shares of Core Laboratories by 101.7% during the 1st quarter. Gendell Jeffrey L now owns 326,890 shares of the oil and gas company’s stock worth $5,583,000 after buying an additional 164,797 shares during the period. Finally, Wintrust Investments LLC lifted its position in shares of Core Laboratories by 52.7% during the 1st quarter. Wintrust Investments LLC now owns 420,411 shares of the oil and gas company’s stock worth $7,181,000 after buying an additional 145,161 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.

Core Laboratories Price Performance

NYSE:CLB opened at $17.07 on Thursday. The stock’s 50-day simple moving average is $18.59 and its 200 day simple moving average is $18.97. The company has a market cap of $800.58 million, a P/E ratio of 19.40, a P/E/G ratio of 1.08 and a beta of 2.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. Core Laboratories Inc. has a 52-week low of $13.82 and a 52-week high of $25.13.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. During the same quarter in the prior year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Stifel Nicolaus lifted their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Piper Sandler reduced their price target on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 17th. Finally, Bank of America reduced their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.00.

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.