Core Laboratories (NYSE:CLB) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC decreased its holdings in Core Laboratories (NYSE:CLB) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,613,008 shares of the oil and gas company’s stock after selling 101,156 shares during the quarter. Clearbridge Investments LLC owned 3.48% of Core Laboratories worth $62,827,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CLB. Marshall Wace LLP acquired a new stake in shares of Core Laboratories during the 1st quarter valued at $30,000. Rockefeller Capital Management L.P. lifted its stake in shares of Core Laboratories by 19.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,060 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 332 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Core Laboratories in the 2nd quarter valued at $84,000. Mutual of America Capital Management LLC lifted its stake in shares of Core Laboratories by 7.2% in the 1st quarter. Mutual of America Capital Management LLC now owns 5,953 shares of the oil and gas company’s stock valued at $171,000 after purchasing an additional 400 shares during the last quarter. Finally, Brinker Capital Investments LLC acquired a new stake in shares of Core Laboratories in the 1st quarter valued at $220,000. 98.55% of the stock is owned by institutional investors.

Several research firms recently issued reports on CLB. Morgan Stanley reduced their price objective on shares of Core Laboratories from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Monday. Piper Sandler reduced their price target on shares of Core Laboratories from $20.00 to $17.50 and set a “neutral” rating on the stock in a research report on Friday, August 20th. Three analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.36.

Shares of Core Laboratories stock opened at $30.99 on Thursday. The firm has a market capitalization of $1.44 billion, a PE ratio of 43.04, a price-to-earnings-growth ratio of 1.25 and a beta of 3.19. The company has a current ratio of 2.21, a quick ratio of 1.79 and a debt-to-equity ratio of 1.35. The firm’s 50 day moving average is $28.07 and its 200 day moving average is $32.85. Core Laboratories has a 1 year low of $13.43 and a 1 year high of $49.87.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, July 28th. The oil and gas company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). Core Laboratories had a return on equity of 27.46% and a net margin of 7.32%. The business had revenue of $118.75 million for the quarter, compared to analyst estimates of $118.85 million. As a group, research analysts anticipate that Core Laboratories will post 0.74 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 24th. Investors of record on Monday, August 9th were given a dividend of $0.01 per share. The ex-dividend date was Friday, August 6th. This represents a $0.04 annualized dividend and a yield of 0.13%. Core Laboratories’s dividend payout ratio is presently 5.00%.

About Core Laboratories

Core Laboratories NV engages in the provision of proprietary and patented reservoir description, production enhancement, and reservoir management services to the oil and gas industry. It operates through the following business segments: Reservoir Description and Production Enhancement. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid, and gas samples and provides analytical and field services to characterize properties of crude oil and petroleum products.

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Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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