Spectrum Asset Management Inc. NB CA Sells 820 Shares of Core Laboratories Inc. (NYSE:CLB)

Spectrum Asset Management Inc. NB CA cut its holdings in Core Laboratories Inc. (NYSE:CLB) by 2.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 37,071 shares of the oil and gas company’s stock after selling 820 shares during the period. Spectrum Asset Management Inc. NB CA’s holdings in Core Laboratories were worth $642,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN increased its holdings in Core Laboratories by 26.7% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,653,591 shares of the oil and gas company’s stock valued at $104,761,000 after purchasing an additional 1,192,871 shares during the period. State Street Corp boosted its holdings in Core Laboratories by 2.9% in the third quarter. State Street Corp now owns 1,975,016 shares of the oil and gas company’s stock worth $36,597,000 after acquiring an additional 56,187 shares in the last quarter. Geode Capital Management LLC raised its holdings in Core Laboratories by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,053,204 shares of the oil and gas company’s stock worth $19,521,000 after buying an additional 7,721 shares during the last quarter. Royce & Associates LP raised its holdings in Core Laboratories by 9.0% in the 3rd quarter. Royce & Associates LP now owns 1,021,121 shares of the oil and gas company’s stock worth $18,921,000 after acquiring an additional 84,022 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Core Laboratories by 19.5% during the third quarter. Fisher Asset Management LLC now owns 990,267 shares of the oil and gas company’s stock valued at $18,350,000 after buying an additional 161,278 shares during the last quarter. 97.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CLB has been the topic of a number of research reports. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup lowered their price objective 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. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, Core Laboratories presently has an average rating of “Hold” and a consensus target price of $17.00.

Core Laboratories Stock Down 6.4 %

Shares of NYSE CLB opened at $16.70 on Friday. 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 market capitalization of $784.25 million, a PE ratio of 25.31, a price-to-earnings-growth ratio of 0.99 and a beta of 2.38. Core Laboratories Inc. has a 12-month low of $13.82 and a 12-month high of $25.13. The stock’s fifty day simple moving average is $18.57 and its two-hundred day simple moving average is $19.25.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. As a group, analysts expect that Core Laboratories Inc. will post 0.96 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Stockholders of record on Monday, February 10th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date is Monday, February 10th. Core Laboratories’s dividend payout ratio (DPR) is 6.06%.

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.