Shelter Mutual Insurance Co Trims Stock Position in Core Laboratories (NYSE:CLB)

Shelter Mutual Insurance Co reduced its stake in shares of Core Laboratories (NYSE:CLB) by 8.8% during the second quarter, Holdings Channel reports. The firm owned 30,740 shares of the oil and gas company’s stock after selling 2,960 shares during the quarter. Shelter Mutual Insurance Co’s holdings in Core Laboratories were worth $1,607,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Manning & Napier Group LLC lifted its holdings in Core Laboratories by 2,062.3% in the second quarter. Manning & Napier Group LLC now owns 720,686 shares of the oil and gas company’s stock valued at $37,675,000 after acquiring an additional 687,356 shares during the period. Norges Bank bought a new position in shares of Core Laboratories during the fourth quarter valued at approximately $26,251,000. Kayne Anderson Rudnick Investment Management LLC grew its holdings in shares of Core Laboratories by 12.3% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,553,960 shares of the oil and gas company’s stock valued at $107,115,000 after purchasing an additional 170,124 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Core Laboratories by 32.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 397,850 shares of the oil and gas company’s stock valued at $23,736,000 after purchasing an additional 98,124 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Core Laboratories by 64.7% during the first quarter. Forsta AP Fonden now owns 227,277 shares of the oil and gas company’s stock valued at $15,666,000 after purchasing an additional 89,300 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently commented on the company. Morgan Stanley lowered their target price on Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating for the company in a report on Friday, July 12th. Stifel Nicolaus set a $75.00 target price on Core Laboratories and gave the company a “buy” rating in a report on Friday, April 26th. ValuEngine lowered Core Laboratories from a “sell” rating to a “strong sell” rating in a report on Monday, July 29th. Bank of America raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 target price for the company in a report on Wednesday, July 10th. Finally, Royal Bank of Canada set a $77.00 target price on Core Laboratories and gave the company a “buy” rating in a report on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. Core Laboratories has a consensus rating of “Hold” and an average price target of $75.67.

CLB stock traded down $1.28 on Thursday, reaching $36.89. The company’s stock had a trading volume of 15,696 shares, compared to its average volume of 813,821. Core Laboratories has a 52 week low of $37.54 and a 52 week high of $122.11. The company has a market capitalization of $1.64 billion, a P/E ratio of 16.15, a P/E/G ratio of 3.51 and a beta of 1.91. The business has a fifty day simple moving average of $49.91. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.80 and a quick ratio of 1.41.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.46. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. The business had revenue of $169.04 million during the quarter, compared to analyst estimates of $173.46 million. During the same period in the prior year, the company posted $0.59 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Research analysts anticipate that Core Laboratories will post 1.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 22nd were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 5.96%. The ex-dividend date of this dividend was Friday, July 19th. Core Laboratories’s dividend payout ratio (DPR) is 96.49%.

Core Laboratories 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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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

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