Core Laboratories (CLB) Shares Bought by Eqis Capital Management Inc.

Eqis Capital Management Inc. raised its position in shares of Core Laboratories (NYSE:CLB) by 23.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,655 shares of the oil and gas company’s stock after acquiring an additional 1,832 shares during the period. Eqis Capital Management Inc.’s holdings in Core Laboratories were worth $666,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the company. Eukles Asset Management acquired a new stake in shares of Core Laboratories in the fourth quarter valued at approximately $27,000. Bremer Trust National Association acquired a new stake in shares of Core Laboratories in the fourth quarter valued at approximately $43,000. Financial Gravity Companies Inc. acquired a new stake in shares of Core Laboratories in the fourth quarter valued at approximately $57,000. Captrust Financial Advisors raised its position in shares of Core Laboratories by 20.4% in the fourth quarter. Captrust Financial Advisors now owns 1,856 shares of the oil and gas company’s stock valued at $111,000 after buying an additional 314 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Core Laboratories in the third quarter valued at approximately $230,000.

In other Core Laboratories news, CAO Kevin Daniels sold 428 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $66.25, for a total transaction of $28,355.00. Following the completion of the transaction, the chief accounting officer now directly owns 352 shares in the company, valued at $23,320. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

A number of research firms have recently weighed in on CLB. Tudor Pickering upgraded shares of Core Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. UBS Group set a $72.00 price target on shares of Core Laboratories and gave the company a “hold” rating in a research report on Saturday, February 2nd. Zacks Investment Research downgraded shares of Core Laboratories from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 23rd. Citigroup dropped their price target on shares of Core Laboratories from $76.00 to $66.00 and set a “neutral” rating for the company in a research report on Friday, January 4th. Finally, Piper Jaffray Companies set a $70.00 price target on shares of Core Laboratories and gave the company a “hold” rating in a research report on Wednesday, December 26th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $89.64.

Shares of CLB opened at $73.83 on Monday. Core Laboratories has a one year low of $56.72 and a one year high of $130.34. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 32.38, a PEG ratio of 2.58 and a beta of 1.86. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.25 and a quick ratio of 1.81.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, January 30th. The oil and gas company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.01). Core Laboratories had a net margin of 11.35% and a return on equity of 63.86%. The firm had revenue of $173.20 million for the quarter, compared to analyst estimates of $173.90 million. During the same quarter in the prior year, the firm earned $0.58 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Core Laboratories will post 2.08 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Shareholders of record on Friday, April 26th will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $2.20 annualized dividend and a yield of 2.98%.

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Core Laboratories 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.

See Also: Cost of Equity For A Business, Investors

Institutional Ownership by Quarter for Core Laboratories (NYSE:CLB)

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