Connable Office Inc. Has $311,000 Stock Position in Core Laboratories Inc. (NYSE:CLB)

Connable Office Inc. raised its holdings in Core Laboratories Inc. (NYSE:CLB) by 18.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,793 shares of the oil and gas company’s stock after acquiring an additional 2,569 shares during the period. Connable Office Inc.’s holdings in Core Laboratories were worth $311,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CLB. Oppenheimer & Co. Inc. lifted its stake in Core Laboratories by 39.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,137 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 4,000 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Core Laboratories by 91.8% during the first quarter. Sei Investments Co. now owns 36,303 shares of the oil and gas company’s stock worth $620,000 after buying an additional 17,371 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Core Laboratories by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock valued at $92,096,000 after acquiring an additional 27,701 shares during the last quarter. Platinum Investment Management Ltd. boosted its holdings in shares of Core Laboratories by 13.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock valued at $108,000 after acquiring an additional 774 shares in the last quarter. Finally, Ariel Investments LLC increased its holdings in Core Laboratories by 20.4% in the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after purchasing an additional 1,837,258 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CLB. Citigroup reduced their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Stifel Nicolaus boosted their target price 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. Finally, StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Core Laboratories Stock Performance

Shares of CLB stock opened at $19.96 on Friday. The stock has a market capitalization of $937.12 million, a PE ratio of 30.71, a PEG ratio of 1.40 and a beta of 2.35. The business’s 50 day simple moving average is $18.88 and its 200 day simple moving average is $19.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. Core Laboratories Inc. has a one year low of $13.82 and a one year high of $25.13.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $134.16 million. During the same period in the prior year, the firm posted $0.22 EPS. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, research analysts forecast that Core Laboratories Inc. will post 0.77 earnings per share for the current year.

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 4th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio is 6.15%.

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.