Cornerstone Wealth Management LLC bought a new stake in Core Laboratories (NYSE:CLB) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,687 shares of the oil and gas company’s stock, valued at approximately $122,000.
A number of other large investors have also bought and sold shares of CLB. Signaturefd LLC raised its position in Core Laboratories by 403.7% in the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 650 shares during the period. WMS Partners LLC purchased a new stake in Core Laboratories in the second quarter valued at $202,000. World Asset Management Inc purchased a new stake in Core Laboratories in the second quarter valued at $205,000. Welch & Forbes LLC purchased a new stake in Core Laboratories in the third quarter valued at $210,000. Finally, Ingalls & Snyder LLC acquired a new stake in shares of Core Laboratories in the second quarter valued at $225,000.
A number of equities research analysts have recently weighed in on the company. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $96.00 price objective on shares of Core Laboratories in a research note on Friday, July 27th. JPMorgan Chase & Co. dropped their price objective on Core Laboratories from $121.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. TheStreet cut Core Laboratories from a “b-” rating to a “c+” rating in a research note on Thursday, October 25th. ValuEngine raised Core Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Zacks Investment Research raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Core Laboratories presently has a consensus rating of “Hold” and an average target price of $111.36.
Shares of NYSE CLB opened at $85.48 on Friday. Core Laboratories has a twelve month low of $82.07 and a twelve month high of $130.34. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 1.83. The firm has a market capitalization of $3.77 billion, a PE ratio of 35.81, a PEG ratio of 2.54 and a beta of 1.64.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The business had revenue of $182.15 million during the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts anticipate that Core Laboratories will post 2.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, October 19th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $2.20 annualized dividend and a yield of 2.57%. Core Laboratories’s payout ratio is 110.00%.
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Core Laboratories Profile
Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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