Fred Alger Management LLC Reduces Holdings in Core Laboratories Inc. (NYSE:CLB)

Fred Alger Management LLC lowered its position in Core Laboratories Inc. (NYSE:CLB) by 1.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 535,913 shares of the oil and gas company’s stock after selling 8,238 shares during the period. Fred Alger Management LLC’s holdings in Core Laboratories were worth $9,930,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CLB. Headlands Technologies LLC purchased a new stake in Core Laboratories in the 2nd quarter worth about $36,000. nVerses Capital LLC bought a new stake in shares of Core Laboratories during the 3rd quarter worth approximately $48,000. GAMMA Investing LLC lifted its stake in shares of Core Laboratories by 23.9% during the 2nd 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. boosted its holdings in Core Laboratories by 11.9% during the 2nd 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 during the period. Finally, Signaturefd LLC grew its position in 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 acquiring an additional 767 shares during the last quarter. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Trading Down 0.2 %

Core Laboratories stock opened at $20.37 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48. The stock has a market cap of $956.37 million, a PE ratio of 31.34, a price-to-earnings-growth ratio of 1.37 and a beta of 2.35. The stock has a 50-day moving average of $19.46 and a two-hundred day moving average of $19.53. Core Laboratories Inc. has a one year low of $13.82 and a one year high of $25.13.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $134.40 million during the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. Core Laboratories’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. On average, research analysts anticipate that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Monday, November 4th. Core Laboratories’s dividend payout ratio (DPR) is presently 6.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup cut their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, Core Laboratories currently has an average rating of “Hold” and an average target price of $17.00.

Core Laboratories Company 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.