Confluence Investment Management LLC Invests $2.50 Million in Core Laboratories Inc. (NYSE:CLB)

Confluence Investment Management LLC purchased a new position in Core Laboratories Inc. (NYSE:CLB) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 146,048 shares of the oil and gas company’s stock, valued at approximately $2,495,000. Confluence Investment Management LLC owned about 0.31% of Core Laboratories at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CLB. Fisher Asset Management LLC lifted its holdings in Core Laboratories by 21.5% in the 4th quarter. Fisher Asset Management LLC now owns 753,555 shares of the oil and gas company’s stock worth $13,308,000 after purchasing an additional 133,375 shares in the last quarter. Gendell Jeffrey L increased its position in shares of Core Laboratories by 35.1% during the 4th quarter. Gendell Jeffrey L now owns 162,093 shares of the oil and gas company’s stock valued at $2,863,000 after purchasing an additional 42,140 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Core Laboratories by 33.4% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 138,951 shares of the oil and gas company’s stock valued at $2,454,000 after purchasing an additional 34,765 shares during the last quarter. Congress Asset Management Co. MA increased its position in shares of Core Laboratories by 21.4% during the 4th quarter. Congress Asset Management Co. MA now owns 1,365,756 shares of the oil and gas company’s stock valued at $24,119,000 after purchasing an additional 240,893 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Core Laboratories by 39.7% in the 3rd quarter. Envestnet Asset Management Inc. now owns 328,435 shares of the oil and gas company’s stock valued at $7,886,000 after acquiring an additional 93,354 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America cut their price objective on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus increased their price target on Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $18.75.

Core Laboratories Stock Up 1.1 %

Shares of NYSE CLB traded up $0.21 during mid-day trading on Tuesday, reaching $18.49. 80,954 shares of the company were exchanged, compared to its average volume of 438,478. The company has a quick ratio of 1.85, a current ratio of 2.68 and a debt-to-equity ratio of 0.68. The stock has a market cap of $867.18 million, a price-to-earnings ratio of 20.76, a P/E/G ratio of 1.13 and a beta of 2.39. Core Laboratories Inc. has a 1 year low of $13.82 and a 1 year high of $27.94. The firm has a 50-day moving average of $17.52 and a 200 day moving average of $16.78.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $124.47 million. On average, research analysts expect that Core Laboratories Inc. will post 0.73 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Friday, May 3rd. Core Laboratories’s payout ratio is 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.