83,519 Shares of Core Laboratories Inc. $CLB Purchased by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. acquired a new stake in Core Laboratories Inc. (NYSE:CLB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 83,519 shares of the oil and gas company’s stock, valued at approximately $810,000. Pinnacle Associates Ltd. owned about 0.18% of Core Laboratories as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. purchased a new stake in Core Laboratories during the 2nd quarter worth approximately $86,910,000. Advisors Capital Management LLC acquired a new position in Core Laboratories during the 2nd quarter valued at approximately $2,766,000. Bank of New York Mellon Corp acquired a new position in Core Laboratories during the 2nd quarter valued at approximately $4,675,000. Legal & General Group Plc purchased a new position in shares of Core Laboratories in the second quarter worth $1,427,000. Finally, Heartland Advisors Inc. purchased a new position in shares of Core Laboratories in the second quarter worth $12,329,000. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Stock Performance

Shares of NYSE CLB opened at $9.89 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 0.41. Core Laboratories Inc. has a 12 month low of $9.13 and a 12 month high of $20.36. The company has a 50 day simple moving average of $11.21 and a two-hundred day simple moving average of $12.49. The stock has a market cap of $453.89 million, a price-to-earnings ratio of 17.67, a PEG ratio of 1.98 and a beta of 1.14.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $124.61 million for the quarter, compared to the consensus estimate of $126.26 million. Core Laboratories had a net margin of 5.10% and a return on equity of 10.03%. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. Core Laboratories has set its Q3 2026 guidance at 0.120-0.200 EPS. As a group, analysts predict that Core Laboratories Inc. will post 0.56 earnings per share for the current year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 10th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 10th. Core Laboratories’s dividend payout ratio (DPR) is 7.14%.

Insider Buying and Selling

In related news, CEO Lawrence Bruno purchased 5,000 shares of Core Laboratories stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $10.78 per share, for a total transaction of $53,900.00. Following the completion of the transaction, the chief executive officer owned 262,438 shares in the company, valued at $2,829,081.64. The trade was a 1.94% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 1.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CLB shares. Johnson Rice upgraded shares of Core Laboratories from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, August 13th. Weiss Ratings downgraded Core Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Finally, Wall Street Zen upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Core Laboratories has an average rating of “Hold” and an average target price of $21.00.

Core Laboratories Profile

Core Laboratories N.V. (NYSE: CLB) is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.