Van ECK Associates Corp Has $7.13 Million Stock Holdings in Core Laboratories Inc. (NYSE:CLB)

Van ECK Associates Corp lessened its holdings in Core Laboratories Inc. (NYSE:CLB - Free Report) by 22.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 417,384 shares of the oil and gas company's stock after selling 122,493 shares during the period. Van ECK Associates Corp owned 0.89% of Core Laboratories worth $7,129,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System boosted its holdings in shares of Core Laboratories by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the oil and gas company's stock worth $479,000 after purchasing an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Core Laboratories by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company's stock valued at $366,000 after buying an additional 579 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Core Laboratories by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company's stock worth $114,000 after purchasing an additional 600 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Core Laboratories by 1.4% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 54,310 shares of the oil and gas company's stock valued at $1,102,000 after purchasing an additional 758 shares during the last quarter. Finally, Signaturefd LLC raised its position in Core Laboratories by 12.8% in the 2nd quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company's stock valued at $137,000 after purchasing an additional 767 shares during the last quarter. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Stock Performance

Shares of NYSE:CLB traded down $0.10 on Friday, reaching $20.77. 96,039 shares of the company's stock were exchanged, compared to its average volume of 427,243. The company has a quick ratio of 1.79, a current ratio of 2.48 and a debt-to-equity ratio of 0.55. The business's 50-day moving average is $18.71 and its two-hundred day moving average is $19.12. Core Laboratories Inc. has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The firm has a market capitalization of $975.15 million, a price-to-earnings ratio of 32.08, a PEG ratio of 1.35 and a beta of 2.35.

Core Laboratories (NYSE:CLB - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The company had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that Core Laboratories Inc. will post 0.77 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 4th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend is Monday, November 4th. Core Laboratories's dividend payout ratio (DPR) is 6.15%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CLB shares. StockNews.com upgraded Core Laboratories from a "sell" rating to a "hold" rating in a research report on Thursday. Citigroup cut their price target on Core Laboratories from $15.00 to $14.00 and set a "sell" rating for the company in a report on Thursday, October 31st. Bank of America lowered their price objective on Core Laboratories from $16.00 to $15.00 and set an "underperform" rating for the company in a research report on Monday, July 15th. Piper Sandler decreased their price target on Core Laboratories from $18.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus increased their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $17.00.

About Core Laboratories

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.