ArrowMark Colorado Holdings LLC purchased a new position in shares of Core Laboratories (NYSE:CLB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 52,000 shares of the oil and gas company’s stock, valued at approximately $5,697,000. ArrowMark Colorado Holdings LLC owned 0.12% of Core Laboratories as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in CLB. Bank of New York Mellon Corp lifted its stake in Core Laboratories by 141.7% during the third quarter. Bank of New York Mellon Corp now owns 567,306 shares of the oil and gas company’s stock worth $55,992,000 after purchasing an additional 332,620 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Core Laboratories by 19.0% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,025,357 shares of the oil and gas company’s stock worth $199,904,000 after purchasing an additional 323,357 shares during the period. TimesSquare Capital Management LLC bought a new position in Core Laboratories during the fourth quarter worth about $32,005,000. Ameriprise Financial Inc. lifted its stake in Core Laboratories by 1,087.6% during the third quarter. Ameriprise Financial Inc. now owns 315,556 shares of the oil and gas company’s stock worth $31,143,000 after purchasing an additional 288,985 shares during the period. Finally, WCM Investment Management CA lifted its stake in Core Laboratories by 5.5% during the fourth quarter. WCM Investment Management CA now owns 4,793,731 shares of the oil and gas company’s stock worth $525,153,000 after purchasing an additional 250,830 shares during the period.
Shares of Core Laboratories stock traded down $1.84 during midday trading on Monday, reaching $106.38. The company had a trading volume of 513,996 shares, compared to its average volume of 452,684. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.98 and a quick ratio of 1.66. The firm has a market cap of $4,779.46, a P/E ratio of 53.19 and a beta of 1.40. Core Laboratories has a 1-year low of $86.55 and a 1-year high of $121.39.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. The business had revenue of $172.00 million during the quarter, compared to analyst estimates of $171.92 million. Core Laboratories had a net margin of 12.60% and a return on equity of 58.25%. Core Laboratories’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. sell-side analysts expect that Core Laboratories will post 2.7 EPS for the current year.
A number of research analysts have recently issued reports on CLB shares. Loop Capital set a $115.00 target price on shares of Core Laboratories and gave the company a “buy” rating in a research note on Thursday, December 7th. ABN Amro cut shares of Core Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Royal Bank of Canada set a $110.00 target price on shares of Core Laboratories and gave the company a “buy” rating in a research note on Thursday, December 21st. Zacks Investment Research upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Deutsche Bank cut shares of Core Laboratories from a “buy” rating to a “hold” rating and cut their target price for the company from $116.30 to $109.00 in a research note on Thursday, January 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $111.39.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by Enterprise Leader and is owned by of Enterprise Leader. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://theenterpriseleader.com/2018/04/02/arrowmark-colorado-holdings-llc-invests-5-70-million-in-core-laboratories-nyseclb.html.
Core Laboratories Profile
Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
Receive News & Ratings for Core Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Core Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.