Comerica Securities Inc. Has $266,000 Holdings in Core Laboratories (CLB)

Comerica Securities Inc. cut its holdings in Core Laboratories (NYSE:CLB) by 50.8% in the third quarter, Holdings Channel reports. The fund owned 2,295 shares of the oil and gas company’s stock after selling 2,374 shares during the quarter. Comerica Securities Inc.’s holdings in Core Laboratories were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WCM Investment Management CA lifted its stake in Core Laboratories by 5.0% in the second quarter. WCM Investment Management CA now owns 5,285,156 shares of the oil and gas company’s stock valued at $667,040,000 after acquiring an additional 249,329 shares during the last quarter. BlackRock Inc. lifted its stake in Core Laboratories by 3.8% in the second quarter. BlackRock Inc. now owns 3,186,363 shares of the oil and gas company’s stock valued at $402,151,000 after acquiring an additional 117,678 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Core Laboratories by 8.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,897,159 shares of the oil and gas company’s stock worth $219,748,000 after buying an additional 149,762 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Core Laboratories by 60.1% in the third quarter. Fisher Asset Management LLC now owns 721,408 shares of the oil and gas company’s stock worth $83,561,000 after buying an additional 270,723 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Core Laboratories by 2.0% in the second quarter. Northern Trust Corp now owns 484,007 shares of the oil and gas company’s stock worth $61,086,000 after buying an additional 9,341 shares during the last quarter.

CLB has been the subject of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Core Laboratories from $121.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Piper Jaffray Companies restated a “hold” rating and issued a $96.00 price objective on shares of Core Laboratories in a research note on Friday, July 27th. Citigroup upgraded shares of Core Laboratories from a “sell” rating to a “neutral” rating and set a $117.00 price objective for the company in a research note on Monday, August 13th. Edward Jones initiated coverage on shares of Core Laboratories in a research note on Tuesday, September 4th. They issued a “buy” rating for the company. Finally, ValuEngine upgraded shares of Core Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $111.36.

Shares of Core Laboratories stock opened at $85.48 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.31 and a debt-to-equity ratio of 1.83. Core Laboratories has a 1-year low of $82.07 and a 1-year high of $130.34. The firm has a market capitalization of $3.77 billion, a PE ratio of 42.74, a PEG ratio of 2.54 and a beta of 1.64.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.01. Core Laboratories had a net margin of 13.21% and a return on equity of 68.00%. The business had revenue of $182.15 million for the quarter, compared to analyst estimates of $178.11 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Core Laboratories’s revenue was up 11.8% compared to the same quarter last year. As a group, analysts anticipate that Core Laboratories will post 2.26 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, October 19th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, October 18th. Core Laboratories’s dividend payout ratio (DPR) is currently 110.00%.

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Core Laboratories Company Profile

Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

Read More: Are all No-Load Funds Equal?

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

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