Headlands Technologies LLC Buys New Stake in Core Laboratories Inc. (NYSE:CLB)

Headlands Technologies LLC purchased a new position in shares of Core Laboratories Inc. (NYSE:CLB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,781 shares of the oil and gas company’s stock, valued at approximately $36,000.

Several other institutional investors and hedge funds also recently modified their holdings of CLB. Louisiana State Employees Retirement System lifted its holdings in Core Laboratories by 2.2% in the second 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 period. Lindbrook Capital LLC boosted its holdings in shares of Core Laboratories by 19.7% in the first quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 612 shares in the last quarter. Signaturefd LLC increased its stake in shares of Core Laboratories by 12.8% during the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 767 shares during the period. Platinum Investment Management Ltd. raised its holdings in Core Laboratories by 13.9% during the first quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock worth $108,000 after purchasing an additional 774 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Core Laboratories by 23.9% in the second quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock worth $90,000 after purchasing an additional 855 shares during the period. Institutional investors own 97.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CLB. Bank of America dropped their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus upped their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Piper Sandler lowered their price objective on shares of 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, StockNews.com cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $18.50.

Core Laboratories Stock Up 4.9 %

Shares of NYSE:CLB opened at $18.36 on Wednesday. The firm has a 50 day simple moving average of $20.36 and a 200 day simple moving average of $18.54. Core Laboratories Inc. has a 52 week low of $13.82 and a 52 week high of $25.20. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The company has a market cap of $861.08 million, a PE ratio of 20.86, a price-to-earnings-growth ratio of 0.94 and a beta of 2.37.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The business had revenue of $130.58 million during the quarter, compared to analysts’ expectations of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. Core Laboratories’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, research analysts expect that Core Laboratories Inc. will post 0.8 earnings per share for the current year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date was Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Core Laboratories Profile

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.