Intech Investment Management LLC Takes $716,000 Position in Core Laboratories Inc. (NYSE:CLB)

Intech Investment Management LLC purchased a new stake in Core Laboratories Inc. (NYSE:CLB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,381 shares of the oil and gas company's stock, valued at approximately $716,000. Intech Investment Management LLC owned approximately 0.09% of Core Laboratories as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CLB. Isthmus Partners LLC boosted its position in shares of Core Laboratories by 5.6% during the fourth quarter. Isthmus Partners LLC now owns 11,219 shares of the oil and gas company's stock valued at $194,000 after buying an additional 599 shares during the last quarter. Amundi grew its stake in shares of Core Laboratories by 194.8% in the 4th quarter. Amundi now owns 32,968 shares of the oil and gas company's stock worth $600,000 after acquiring an additional 21,783 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Core Laboratories during the fourth quarter valued at about $6,760,000. Assetmark Inc. bought a new stake in Core Laboratories in the 4th quarter worth about $26,000. Finally, Jones Financial Companies Lllp increased its stake in Core Laboratories by 10.6% in the 4th quarter. Jones Financial Companies Lllp now owns 16,383 shares of the oil and gas company's stock valued at $284,000 after buying an additional 1,569 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company's stock.

Core Laboratories Stock Performance

CLB traded up $0.08 during midday trading on Thursday, reaching $15.47. The company had a trading volume of 456,792 shares, compared to its average volume of 357,147. The business has a 50-day moving average price of $16.60 and a two-hundred day moving average price of $18.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32. Core Laboratories Inc. has a 12-month low of $12.95 and a 12-month high of $25.13. The stock has a market cap of $724.41 million, a PE ratio of 23.44, a P/E/G ratio of 0.99 and a beta of 2.38.

Remove Ads

Core Laboratories (NYSE:CLB - Get Free Report) last issued its earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. On average, sell-side analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date was Monday, February 10th. Core Laboratories's dividend payout ratio (DPR) is presently 6.06%.

Wall Street Analyst Weigh In

Separately, Citigroup raised Core Laboratories from a "sell" rating to a "neutral" rating and upped their target price for the company from $15.00 to $16.00 in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $17.50.

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.