CoreCommodity Management LLC Takes $235,000 Position in Core Laboratories Inc. (NYSE:CLB)

CoreCommodity Management LLC acquired a new position in shares of Core Laboratories Inc. (NYSE:CLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,583 shares of the oil and gas company’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. bought a new stake in shares of Core Laboratories during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC grew its holdings in Core Laboratories by 173.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,293 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Core Laboratories by 2,688.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,426 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 2,339 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Core Laboratories by 843.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 2,936 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in shares of Core Laboratories during the fourth quarter valued at $123,000. Institutional investors and hedge funds own 97.81% of the company’s stock.

Core Laboratories Stock Performance

CLB stock opened at $11.60 on Thursday. The firm has a market cap of $543.84 million, a PE ratio of 17.58, a price-to-earnings-growth ratio of 0.99 and a beta of 1.45. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average price of $13.34 and a 200-day moving average price of $16.80. Core Laboratories Inc. has a 1-year low of $10.14 and a 1-year high of $25.13.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The business had revenue of $123.59 million during the quarter, compared to the consensus estimate of $125.09 million. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 earnings per share. As a group, equities research analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, May 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.34%. Core Laboratories’s dividend payout ratio is 6.78%.

Wall Street Analyst Weigh In

CLB has been the subject of a number of recent research reports. Citigroup upgraded Core Laboratories from a “sell” rating to a “neutral” rating and increased their price objective for the company from $15.00 to $16.00 in a report on Wednesday, March 12th. StockNews.com cut Core Laboratories from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Finally, Stifel Nicolaus lowered their price objective on Core Laboratories from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, Core Laboratories currently has an average rating of “Hold” and a consensus target price of $15.75.

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.