Moors & Cabot Inc. Cuts Stock Holdings in Core Laboratories Inc. (NYSE:CLB)

Moors & Cabot Inc. trimmed its holdings in shares of Core Laboratories Inc. (NYSE:CLB) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,401 shares of the oil and gas company’s stock after selling 1,130 shares during the quarter. Moors & Cabot Inc. owned approximately 0.16% of Core Laboratories worth $1,379,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CLB. Headlands Technologies LLC acquired a new position in shares of Core Laboratories during the second quarter worth $36,000. nVerses Capital LLC purchased a new stake in shares of Core Laboratories during the third quarter worth about $48,000. GAMMA Investing LLC grew its stake in shares of Core Laboratories by 23.9% during the second quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock worth $90,000 after acquiring an additional 855 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Core Laboratories by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 600 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of Core Laboratories by 12.8% in the 2nd quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 767 shares during the last quarter. Institutional investors own 97.81% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CLB shares. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Citigroup decreased their target price on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus increased their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $17.00.

Core Laboratories Stock Performance

NYSE:CLB opened at $21.12 on Friday. Core Laboratories Inc. has a 1-year low of $13.82 and a 1-year high of $25.13. The firm has a market capitalization of $991.58 million, a price-to-earnings ratio of 32.49, a PEG ratio of 1.38 and a beta of 2.35. The company’s 50-day moving average is $19.18 and its two-hundred day moving average is $19.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. During the same period last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts forecast that Core Laboratories Inc. will post 0.77 EPS for the current year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend is Monday, November 4th. Core Laboratories’s payout ratio is currently 6.15%.

About Core Laboratories

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.