Carbo Ceramics Inc. (CRR) Stake Boosted by Oslo Asset Management ASA
Oslo Asset Management ASA boosted its position in shares of Carbo Ceramics Inc. (NYSE:CRR) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 1,120,102 shares of the company’s stock after buying an additional 22,000 shares during the period. Carbo Ceramics accounts for approximately 11.9% of Oslo Asset Management ASA’s portfolio, making the stock its 5th largest position. Oslo Asset Management ASA’s holdings in Carbo Ceramics were worth $14,673,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. raised its stake in Carbo Ceramics by 17.5% in the first quarter. Prudential Financial Inc. now owns 56,977 shares of the company’s stock valued at $810,000 after buying an additional 8,500 shares in the last quarter. BlackRock Inc. raised its stake in Carbo Ceramics by 343.9% in the first quarter. BlackRock Inc. now owns 66,347 shares of the company’s stock valued at $942,000 after buying an additional 51,399 shares in the last quarter. BlackRock Group LTD raised its stake in Carbo Ceramics by 176.2% in the first quarter. BlackRock Group LTD now owns 148,825 shares of the company’s stock valued at $2,113,000 after buying an additional 94,945 shares in the last quarter. BlackRock Fund Advisors raised its stake in Carbo Ceramics by 0.8% in the first quarter. BlackRock Fund Advisors now owns 1,326,655 shares of the company’s stock valued at $18,839,000 after buying an additional 9,947 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Carbo Ceramics by 20.0% in the first quarter. Royce & Associates LP now owns 210,000 shares of the company’s stock valued at $2,982,000 after buying an additional 35,000 shares in the last quarter. Institutional investors own 92.38% of the company’s stock.
Shares of Carbo Ceramics Inc. (NYSE:CRR) traded down 1.94% during trading on Tuesday, reaching $11.64. The company had a trading volume of 575,651 shares. The company’s market capitalization is $273.52 million. The stock’s 50-day moving average price is $12.30 and its 200-day moving average price is $13.29. Carbo Ceramics Inc. has a 52 week low of $9.48 and a 52 week high of $25.62.
Carbo Ceramics (NYSE:CRR) last issued its earnings results on Thursday, July 28th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.89) by $0.01. The company earned $20.70 million during the quarter, compared to analyst estimates of $24.70 million. Carbo Ceramics had a negative return on equity of 7.16% and a negative net margin of 58.46%. The firm’s quarterly revenue was down 71.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.41) EPS. On average, equities analysts expect that Carbo Ceramics Inc. will post ($3.24) EPS for the current fiscal year.
Several analysts have issued reports on the company. Zacks Investment Research raised Carbo Ceramics from a “sell” rating to a “hold” rating in a report on Tuesday, August 2nd. Goldman Sachs Group Inc. reaffirmed a “sell” rating and issued a $8.00 price objective on shares of Carbo Ceramics in a research note on Wednesday, June 15th. Scotiabank reaffirmed a “sector perform” rating and issued a $15.00 price objective (down previously from $18.00) on shares of Carbo Ceramics in a research note on Tuesday, June 7th. Finally, Howard Weil dropped their price objective on Carbo Ceramics from $18.00 to $15.00 and set a “sector perform” rating for the company in a research note on Tuesday, June 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $16.53.
About Carbo Ceramics
Carbo Ceramics Inc is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.
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