FMR LLC continued to hold its stake in CARBO Ceramics Inc. (NYSE:CRR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,520,200 shares of the oil and gas company’s stock at the end of the fourth quarter. FMR LLC owned 13.26% of CARBO Ceramics worth $36,821,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in shares of CARBO Ceramics by 86.3% in the fourth quarter. Van ECK Associates Corp now owns 192,854 shares of the oil and gas company’s stock valued at $2,017,000 after buying an additional 89,330 shares during the last quarter. State Street Corp boosted its position in shares of CARBO Ceramics by 20.3% in the fourth quarter. State Street Corp now owns 439,389 shares of the oil and gas company’s stock valued at $4,594,000 after buying an additional 74,120 shares during the last quarter. Comerica Bank boosted its position in shares of CARBO Ceramics by 20.1% in the fourth quarter. Comerica Bank now owns 22,216 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 3,711 shares during the last quarter. Energy Opportunities Capital Management LLC boosted its position in shares of CARBO Ceramics by 237.4% in the third quarter. Energy Opportunities Capital Management LLC now owns 346,894 shares of the oil and gas company’s stock valued at $3,795,000 after buying an additional 244,090 shares during the last quarter. Finally, Lombard Odier Asset Management USA Corp bought a new position in shares of CARBO Ceramics during the third quarter valued at $2,141,000. 81.28% of the stock is currently owned by hedge funds and other institutional investors.
CARBO Ceramics Inc. (NYSE:CRR) traded down 5.73% during mid-day trading on Friday, hitting $8.88. 841,123 shares of the company’s stock were exchanged. CARBO Ceramics Inc. has a 12 month low of $5.66 and a 12 month high of $16.70. The stock’s market cap is $241.02 million. The stock’s 50 day moving average price is $11.63 and its 200-day moving average price is $10.83.
CARBO Ceramics (NYSE:CRR) last announced its quarterly earnings results on Thursday, January 26th. The oil and gas company reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.43. The business had revenue of $27.70 million for the quarter, compared to analyst estimates of $23.39 million. CARBO Ceramics had a negative net margin of 77.75% and a negative return on equity of 7.01%. The company’s revenue was down 48.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.60) EPS. Equities analysts expect that CARBO Ceramics Inc. will post ($3.16) EPS for the current fiscal year.
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A number of equities analysts recently commented on the company. Scotiabank set a $14.00 price target on CARBO Ceramics and gave the stock a “hold” rating in a report on Wednesday, March 22nd. Evercore ISI upgraded CARBO Ceramics from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Monday, February 6th. Cowen and Company raised their price objective on shares of CARBO Ceramics from $11.00 to $15.00 and gave the stock a “market perform” rating in a research report on Monday, February 6th. Finally, Zacks Investment Research downgraded shares of CARBO Ceramics from a “buy” rating to a “hold” rating in a research report on Tuesday, January 31st. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. CARBO Ceramics presently has an average rating of “Hold” and an average price target of $13.50.
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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