Core Laboratories Inc. (NYSE:CLB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in Core Laboratories Inc. (NYSE:CLB) by 7.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,857 shares of the oil and gas company’s stock after selling 1,820 shares during the period. PNC Financial Services Group Inc.’s holdings in Core Laboratories were worth $396,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CLB. Assetmark Inc. acquired a new stake in shares of Core Laboratories in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its holdings in Core Laboratories by 173.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 1,293 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Core Laboratories by 2,688.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,426 shares of the oil and gas company’s stock worth $42,000 after buying an additional 2,339 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of Core Laboratories by 18.8% in the third quarter. Isthmus Partners LLC now owns 10,620 shares of the oil and gas company’s stock worth $197,000 after acquiring an additional 1,682 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Core Laboratories in the third quarter worth $211,000. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded Core Laboratories from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $15.00 to $16.00 in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $17.50.

Core Laboratories Stock Up 0.2 %

CLB stock opened at $15.40 on Friday. Core Laboratories Inc. has a one year low of $12.95 and a one year high of $25.13. The stock has a market capitalization of $721.32 million, a P/E ratio of 23.34, a PEG ratio of 0.99 and a beta of 2.38. The company has a 50 day moving average price of $16.85 and a two-hundred day moving average price of $18.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. As a group, sell-side analysts expect that Core Laboratories Inc. will post 0.96 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, February 10th. This represents a $0.04 annualized dividend and a dividend yield of 0.26%. Core Laboratories’s payout ratio is currently 6.06%.

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.