Truist Financial Corp cut its holdings in shares of Core Laboratories Inc. (NYSE:CLB – Free Report) by 42.1% during the fourth quarter, Holdings Channel reports. The fund owned 28,172 shares of the oil and gas company’s stock after selling 20,456 shares during the quarter. Truist Financial Corp’s holdings in Core Laboratories were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of CLB. Morningstar Investment Services LLC increased its stake in shares of Core Laboratories by 6.0% during the third quarter. Morningstar Investment Services LLC now owns 13,570 shares of the oil and gas company’s stock worth $333,000 after purchasing an additional 764 shares during the period. Swiss National Bank grew its holdings in Core Laboratories by 1.0% in the 3rd quarter. Swiss National Bank now owns 102,500 shares of the oil and gas company’s stock valued at $2,461,000 after buying an additional 1,000 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of Core Laboratories during the third quarter worth $31,000. Toroso Investments LLC lifted its holdings in shares of Core Laboratories by 6.9% during the third quarter. Toroso Investments LLC now owns 38,348 shares of the oil and gas company’s stock worth $921,000 after buying an additional 2,480 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Core Laboratories by 72.7% in 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 acquiring an additional 2,533 shares in the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts have issued reports on the stock. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Stifel Nicolaus boosted their price target on Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, Bank of America lowered their price objective on 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 equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.75.
Read Our Latest Analysis on CLB
Core Laboratories Stock Performance
NYSE CLB opened at $18.04 on Friday. The firm’s 50 day simple moving average is $16.89 and its 200 day simple moving average is $16.94. The firm has a market capitalization of $846.08 million, a price-to-earnings ratio of 20.50, a P/E/G ratio of 1.03 and a beta of 2.40. The company has a current ratio of 2.68, a quick ratio of 1.85 and a debt-to-equity ratio of 0.68. Core Laboratories Inc. has a 1 year low of $13.82 and a 1 year high of $27.94.
Core Laboratories (NYSE:CLB – Get Free Report) last issued its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. The firm had revenue of $129.64 million for the quarter, compared to the consensus estimate of $124.47 million. As a group, research analysts expect that Core Laboratories Inc. will post 0.8 earnings per share for the current fiscal year.
Core Laboratories Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. Core Laboratories’s payout ratio is currently 4.55%.
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.
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Source: defenseworld.net
