Legal & General Group Plc Increases Stake in Carbo Ceramics, Inc. (CRR)

Legal & General Group Plc grew its position in Carbo Ceramics, Inc. (NYSE:CRR) by 8.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 39,529 shares of the oil and gas company’s stock after acquiring an additional 3,166 shares during the period. Legal & General Group Plc owned 0.15% of Carbo Ceramics worth $271,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Public Employees Retirement System of Ohio lifted its stake in shares of Carbo Ceramics by 13.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 9,786 shares of the oil and gas company’s stock valued at $128,000 after acquiring an additional 1,196 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Carbo Ceramics by 1.8% in the 1st quarter. Arizona State Retirement System now owns 11,014 shares of the oil and gas company’s stock valued at $144,000 after acquiring an additional 200 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in shares of Carbo Ceramics by 7.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 11,980 shares of the oil and gas company’s stock valued at $156,000 after acquiring an additional 830 shares during the last quarter. AXA bought a new position in shares of Carbo Ceramics in the 1st quarter valued at $156,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Carbo Ceramics by 170.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 12,284 shares of the oil and gas company’s stock valued at $160,000 after acquiring an additional 7,750 shares during the last quarter. Institutional investors own 72.19% of the company’s stock.

Carbo Ceramics, Inc. (CRR) opened at 7.40 on Wednesday. The company’s market capitalization is $200.89 million. The company’s 50-day moving average price is $7.49 and its 200 day moving average price is $7.83. Carbo Ceramics, Inc. has a 12 month low of $5.66 and a 12 month high of $16.70.

Carbo Ceramics (NYSE:CRR) last posted its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.07). Carbo Ceramics had a negative net margin of 72.46% and a negative return on equity of 12.72%. The business had revenue of $43.57 million for the quarter, compared to analysts’ expectations of $36.50 million. During the same quarter in the previous year, the company earned ($0.88) earnings per share. The business’s quarterly revenue was up 111.0% on a year-over-year basis. Analysts forecast that Carbo Ceramics, Inc. will post ($3.63) EPS for the current fiscal year.

A number of brokerages have recently commented on CRR. Zacks Investment Research upgraded Carbo Ceramics from a “sell” rating to a “hold” rating in a research note on Tuesday, August 22nd. Piper Jaffray Companies set a $9.00 price target on Carbo Ceramics and gave the company a “hold” rating in a research note on Thursday, July 27th. Cowen and Company set a $11.00 price target on Carbo Ceramics and gave the company a “hold” rating in a research note on Friday, October 6th. ValuEngine cut Carbo Ceramics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, Scotiabank set a $12.00 price target on Carbo Ceramics and gave the company a “hold” rating in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $10.78.

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Carbo Ceramics 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.

Institutional Ownership by Quarter for Carbo Ceramics (NYSE:CRR)

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