Zacks Investment Research lowered shares of CARBO Ceramics (NYSE:CRR) from a hold rating to a sell rating in a report published on Monday.

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. ValuEngine raised shares of CARBO Ceramics from a strong sell rating to a sell rating in a research report on Tuesday, October 31st. Scotiabank set a $12.00 price objective on shares of CARBO Ceramics and gave the company a hold rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The company presently has an average rating of Hold and a consensus price target of $9.25.

CARBO Ceramics (NYSE:CRR) opened at $7.37 on Monday. CARBO Ceramics has a 1 year low of $5.83 and a 1 year high of $16.70. The firm has a market cap of $200.00, a PE ratio of -0.78 and a beta of 1.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.61 and a quick ratio of 3.31.

CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas company reported ($0.65) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by ($0.02). CARBO Ceramics had a negative net margin of 67.47% and a negative return on equity of 20.27%. The business had revenue of $60.34 million during the quarter, compared to the consensus estimate of $56.87 million. During the same period in the previous year, the business posted ($0.35) EPS. CARBO Ceramics’s revenue was up 107.4% compared to the same quarter last year. equities analysts expect that CARBO Ceramics will post -1.51 earnings per share for the current year.

In other news, major shareholder Wilks Brothers, Llc acquired 134,356 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was purchased at an average price of $8.57 per share, for a total transaction of $1,151,430.92. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 16.20% of the company’s stock.

A number of large investors have recently bought and sold shares of CRR. Wells Fargo & Company MN increased its stake in CARBO Ceramics by 70.0% in the 3rd quarter. Wells Fargo & Company MN now owns 879,216 shares of the oil and gas company’s stock valued at $7,588,000 after buying an additional 362,028 shares during the last quarter. Old West Investment Management LLC increased its stake in CARBO Ceramics by 399.5% in the 3rd quarter. Old West Investment Management LLC now owns 266,200 shares of the oil and gas company’s stock valued at $2,297,000 after buying an additional 212,911 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in CARBO Ceramics by 127.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 304,353 shares of the oil and gas company’s stock valued at $2,627,000 after buying an additional 170,289 shares during the last quarter. Ameriprise Financial Inc. increased its stake in CARBO Ceramics by 34.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 548,679 shares of the oil and gas company’s stock valued at $3,780,000 after buying an additional 140,807 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in CARBO Ceramics by 37.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 483,019 shares of the oil and gas company’s stock valued at $4,169,000 after buying an additional 131,139 shares during the last quarter. Hedge funds and other institutional investors own 73.60% of the company’s stock.

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CARBO Ceramics Company Profile

CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.

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