California Public Employees Retirement System Decreases Stake in Core Laboratories N.V. (CLB)
California Public Employees Retirement System reduced its stake in shares of Core Laboratories N.V. (NYSE:CLB) by 8.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,900 shares of the company’s stock after selling 9,100 shares during the period. California Public Employees Retirement System’s holdings in Core Laboratories N.V. were worth $10,548,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of the stock. Ngam Advisors L.P. raised its stake in Core Laboratories N.V. by 11.0% in the second quarter. Ngam Advisors L.P. now owns 103,877 shares of the company’s stock valued at $12,869,000 after buying an additional 10,274 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in Core Laboratories N.V. during the second quarter valued at about $12,650,000. Howland Capital Management LLC raised its stake in Core Laboratories N.V. by 3.8% in the third quarter. Howland Capital Management LLC now owns 108,399 shares of the company’s stock valued at $12,176,000 after buying an additional 3,970 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new stake in Core Laboratories N.V. during the third quarter valued at about $4,875,000. Finally, Evercore Wealth Management LLC raised its stake in Core Laboratories N.V. by 1.4% in the second quarter. Evercore Wealth Management LLC now owns 226,717 shares of the company’s stock valued at $28,088,000 after buying an additional 3,062 shares during the last quarter.
Shares of Core Laboratories N.V. (NYSE:CLB) opened at 119.89 on Friday. The firm has a 50-day moving average of $118.81 and a 200-day moving average of $113.79. The firm has a market cap of $5.29 billion, a P/E ratio of 81.23 and a beta of 1.48. Core Laboratories N.V. has a 12-month low of $84.50 and a 12-month high of $135.49.
Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.38 EPS for the quarter, hitting analysts’ consensus estimates of $0.38. The firm had revenue of $143.50 million for the quarter, compared to the consensus estimate of $155.72 million. Core Laboratories N.V. had a net margin of 10.17% and a return on equity of 108.46%. The firm’s revenue was down 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.83 earnings per share. On average, equities analysts forecast that Core Laboratories N.V. will post $1.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 17th. Investors of record on Friday, January 20th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Wednesday, January 18th. Core Laboratories N.V.’s dividend payout ratio is currently 149.66%.
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CLB has been the topic of several recent analyst reports. DA Davidson initiated coverage on shares of Core Laboratories N.V. in a research note on Wednesday, October 5th. They set a “buy” rating and a $136.00 target price on the stock. Zacks Investment Research raised shares of Core Laboratories N.V. from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Wednesday, September 21st. Loop Capital initiated coverage on shares of Core Laboratories N.V. in a research note on Friday, September 30th. They set a “hold” rating and a $120.00 target price on the stock. Cowen and Company reissued a “market perform” rating and set a $105.00 target price on shares of Core Laboratories N.V. in a research note on Saturday, October 22nd. Finally, Guggenheim lowered shares of Core Laboratories N.V. from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 6th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Core Laboratories N.V. has a consensus rating of “Hold” and a consensus target price of $120.29.
About Core Laboratories N.V.
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields.
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