According to Zacks, “CARBO Ceramics Inc. is an oilfield services technology company that provides industry-leading production enhancement and environmental services solutions. By integrating technologies and intellectual capital to design, build and optimize fractures, CARBO delivers complete production enhancement solutions to help oilfield service companies and E&P clients increase the production of oil and natural gas wells and achieve higher ultimate recovery rates. The Company also provides high-performance spill prevention and containment solutions that are engineered to protect the client’s entire wellsite as well as the environment. “
Several other brokerages have also recently weighed in on CRR. Piper Jaffray Companies set a $1.00 price objective on CARBO Ceramics and gave the company a hold rating in a report on Friday, July 26th. ValuEngine cut CARBO Ceramics from a hold rating to a sell rating in a report on Wednesday, May 1st.
CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported ($0.57) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.52) by ($0.05). The company had revenue of $43.10 million during the quarter, compared to the consensus estimate of $51.85 million. CARBO Ceramics had a negative net margin of 37.95% and a negative return on equity of 21.61%. CARBO Ceramics’s revenue was down 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.55) EPS. Equities analysts expect that CARBO Ceramics will post -2.11 earnings per share for the current year.
In related news, CEO Gary A. Kolstad acquired 32,350 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was bought at an average price of $1.03 per share, for a total transaction of $33,320.50. Following the acquisition, the chief executive officer now directly owns 495,000 shares of the company’s stock, valued at $509,850. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Don P. Conkle acquired 75,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was bought at an average price of $1.31 per share, with a total value of $98,250.00. Following the acquisition, the vice president now directly owns 228,237 shares in the company, valued at $298,990.47. The disclosure for this purchase can be found here. 15.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CRR. Deutsche Bank AG lifted its stake in CARBO Ceramics by 400.2% in the 4th quarter. Deutsche Bank AG now owns 240,947 shares of the oil and gas company’s stock valued at $837,000 after purchasing an additional 192,776 shares during the last quarter. Moors & Cabot Inc. lifted its stake in CARBO Ceramics by 92.7% in the 1st quarter. Moors & Cabot Inc. now owns 183,600 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 88,300 shares during the last quarter. Spark Investment Management LLC lifted its stake in CARBO Ceramics by 302.0% in the 1st quarter. Spark Investment Management LLC now owns 72,360 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 54,360 shares during the last quarter. SG Americas Securities LLC acquired a new stake in CARBO Ceramics in the 2nd quarter valued at about $66,000. Finally, Tieton Capital Management LLC lifted its stake in CARBO Ceramics by 12.6% in the 1st quarter. Tieton Capital Management LLC now owns 330,511 shares of the oil and gas company’s stock valued at $1,157,000 after purchasing an additional 36,950 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.
About CARBO Ceramics
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.
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