Macquarie Group Ltd. Lowers Position in Core Laboratories (NYSE:CLB)

Macquarie Group Ltd. decreased its position in Core Laboratories (NYSE:CLB) by 1.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,132 shares of the oil and gas company’s stock after selling 575 shares during the period. Macquarie Group Ltd. owned about 0.10% of Core Laboratories worth $2,255,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Core Laboratories by 1.7% in the second quarter. Vanguard Group Inc. now owns 4,213,497 shares of the oil and gas company’s stock valued at $220,282,000 after acquiring an additional 71,430 shares in the last quarter. Earnest Partners LLC boosted its holdings in Core Laboratories by 19.5% during the second quarter. Earnest Partners LLC now owns 2,308,539 shares of the oil and gas company’s stock worth $120,690,000 after buying an additional 377,223 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Core Laboratories by 0.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,837 shares of the oil and gas company’s stock worth $81,811,000 after buying an additional 10,877 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Core Laboratories by 129.5% during the second quarter. Van ECK Associates Corp now owns 1,272,774 shares of the oil and gas company’s stock worth $66,541,000 after buying an additional 718,280 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Core Laboratories by 1.8% during the second quarter. JPMorgan Chase & Co. now owns 1,222,147 shares of the oil and gas company’s stock worth $62,610,000 after buying an additional 21,810 shares in the last quarter.

In other Core Laboratories news, Director Gregory Barry Barnett purchased 1,000 shares of Core Laboratories stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $40.00 per share, with a total value of $40,000.00. Following the completion of the acquisition, the director now directly owns 11,000 shares of the company’s stock, valued at $440,000. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is owned by corporate insiders.

A number of analysts recently commented on CLB shares. Bank of America raised shares of Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Wednesday, July 10th. Morgan Stanley decreased their price objective on shares of Core Laboratories from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday, October 7th. Piper Jaffray Companies set a $52.00 price objective on shares of Core Laboratories and gave the stock a “hold” rating in a report on Wednesday, June 26th. Citigroup decreased their price objective on shares of Core Laboratories from $54.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, ValuEngine raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $73.17.

Shares of NYSE CLB opened at $44.14 on Friday. Core Laboratories has a 12-month low of $36.61 and a 12-month high of $109.96. The company has a market capitalization of $1.96 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 4.51 and a beta of 1.97. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.80 and a quick ratio of 1.41. The firm’s 50-day moving average is $43.81 and its two-hundred day moving average is $52.59.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.46. Core Laboratories had a net margin of 14.30% and a return on equity of 51.19%. The company had revenue of $169.04 million for the quarter, compared to the consensus estimate of $173.46 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, analysts forecast that Core Laboratories will post 1.79 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Shareholders of record on Friday, October 18th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 4.98%. The ex-dividend date of this dividend is Thursday, October 17th. Core Laboratories’s dividend payout ratio (DPR) is presently 96.49%.

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. 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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