Raymond James Financial Inc. acquired a new stake in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 390,554 shares of the oil and gas company's stock, valued at approximately $6,760,000. Raymond James Financial Inc. owned about 0.83% of Core Laboratories at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in CLB. Assetmark Inc. acquired a new stake in shares of Core Laboratories in the 4th quarter valued at about $26,000. Jones Financial Companies Lllp raised its stake in Core Laboratories by 10.6% during the fourth 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 in the last quarter. Smartleaf Asset Management LLC lifted its holdings in Core Laboratories by 173.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company's stock worth $35,000 after buying an additional 1,293 shares during the last quarter. Exchange Capital Management Inc. grew its position in shares of Core Laboratories by 4.6% in the 4th quarter. Exchange Capital Management Inc. now owns 68,138 shares of the oil and gas company's stock worth $1,179,000 after acquiring an additional 3,024 shares in the last quarter. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Core Laboratories in the 4th quarter valued at approximately $1,960,000. 97.81% of the stock is owned by institutional investors and hedge funds.
Core Laboratories Stock Performance
Shares of Core Laboratories stock traded up $0.08 on Thursday, reaching $15.47. 456,792 shares of the company were exchanged, compared to its average volume of 340,005. The firm has a market cap of $724.41 million, a price-to-earnings ratio of 23.44, a P/E/G ratio of 0.99 and a beta of 2.38. Core Laboratories Inc. has a 1-year low of $12.95 and a 1-year high of $25.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32. The company's 50-day moving average is $16.60 and its two-hundred day moving average is $18.12.
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 for the quarter, hitting the consensus estimate of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. As a group, research analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current fiscal year.
Core Laboratories Dividend Announcement
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 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date was Monday, February 10th. Core Laboratories's dividend payout ratio (DPR) is 6.06%.
Analyst Ratings Changes
Separately, Citigroup upgraded Core Laboratories from a "sell" rating to a "neutral" rating and raised their price objective for the stock from $15.00 to $16.00 in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to data from MarketBeat.com, Core Laboratories currently has an average rating of "Hold" and an average target price of $17.50.
Read Our Latest Report on CLB
About Core Laboratories
(
Free Report)
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.
Featured Stories
Before you consider Core Laboratories, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Core Laboratories wasn't on the list.
While Core Laboratories currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
