Sandy Spring Bank decreased its holdings in Core Laboratories (NYSE:CLB) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,646 shares of the oil and gas company’s stock after selling 260 shares during the quarter. Sandy Spring Bank’s holdings in Core Laboratories were worth $516,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Eukles Asset Management bought a new stake in shares of Core Laboratories in the 4th quarter worth about $27,000. Financial Gravity Companies Inc. bought a new stake in shares of Core Laboratories in the 4th quarter worth about $57,000. Cornerstone Wealth Management LLC bought a new stake in shares of Core Laboratories in the 3rd quarter worth about $122,000. Pendal Group Ltd bought a new stake in shares of Core Laboratories in the 4th quarter worth about $137,000. Finally, Capital International Inc. CA bought a new stake in shares of Core Laboratories in the 3rd quarter worth about $156,000.
Shares of NYSE:CLB opened at $64.25 on Friday. Core Laboratories has a 12 month low of $56.72 and a 12 month high of $130.34. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.81 and a current ratio of 2.25. The stock has a market cap of $2.85 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.34 and a beta of 1.87.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, January 30th. The oil and gas company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). Core Laboratories had a return on equity of 63.86% and a net margin of 11.35%. The company had revenue of $173.20 million for the quarter, compared to the consensus estimate of $173.90 million. During the same period in the prior year, the company earned $0.58 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Analysts expect that Core Laboratories will post 2.06 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, January 25th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date of this dividend was Thursday, January 24th.
Several equities research analysts have recently weighed in on CLB shares. Morgan Stanley lowered their target price on shares of Core Laboratories from $115.00 to $105.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Guggenheim raised shares of Core Laboratories from a “neutral” rating to a “buy” rating and set a $120.00 target price on the stock in a report on Friday, November 16th. Piper Jaffray Companies set a $70.00 target price on shares of Core Laboratories and gave the stock a “hold” rating in a report on Wednesday, December 26th. Credit Suisse Group lowered shares of Core Laboratories from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $105.00 to $75.00 in a report on Wednesday, December 19th. Finally, JPMorgan Chase & Co. lowered shares of Core Laboratories from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $111.00 to $79.00 in a report on Tuesday, December 11th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Core Laboratories presently has an average rating of “Hold” and a consensus target price of $95.09.
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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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