Suntrust Banks Inc. Boosts Stake in Core Laboratories N.V. (CLB)

Suntrust Banks Inc. grew its position in Core Laboratories N.V. (NYSE:CLB) by 38.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,801 shares of the oil and gas company’s stock after buying an additional 1,323 shares during the quarter. Suntrust Banks Inc.’s holdings in Core Laboratories N.V. were worth $485,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Clearbridge Investments LLC boosted its holdings in shares of Core Laboratories N.V. by 3.8% in the first quarter. Clearbridge Investments LLC now owns 5,219,879 shares of the oil and gas company’s stock worth $603,000,000 after buying an additional 190,186 shares during the period. WCM Investment Management CA boosted its holdings in shares of Core Laboratories N.V. by 7.3% in the second quarter. WCM Investment Management CA now owns 4,433,175 shares of the oil and gas company’s stock worth $448,948,000 after buying an additional 303,073 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Core Laboratories N.V. by 1.6% in the second quarter. Vanguard Group Inc. now owns 3,672,865 shares of the oil and gas company’s stock worth $371,950,000 after buying an additional 56,807 shares during the period. Sustainable Growth Advisers LP boosted its holdings in shares of Core Laboratories N.V. by 36.9% in the second quarter. Sustainable Growth Advisers LP now owns 2,345,271 shares of the oil and gas company’s stock worth $237,505,000 after buying an additional 632,263 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Core Laboratories N.V. by 1.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,702,000 shares of the oil and gas company’s stock worth $172,364,000 after buying an additional 22,276 shares during the period.

Shares of Core Laboratories N.V. (NYSE CLB) opened at 96.05 on Wednesday. The firm has a market capitalization of $4.24 billion, a PE ratio of 58.93 and a beta of 1.64. The company’s 50 day moving average is $93.95 and its 200 day moving average is $102.47. Core Laboratories N.V. has a 12-month low of $86.55 and a 12-month high of $125.83.

Core Laboratories N.V. (NYSE:CLB) last issued its quarterly earnings data on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Core Laboratories N.V. had a return on equity of 49.29% and a net margin of 11.80%. The business had revenue of $163.90 million during the quarter, compared to analyst estimates of $168.23 million. During the same period in the previous year, the firm earned $0.35 EPS. Core Laboratories N.V.’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that Core Laboratories N.V. will post $1.98 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 21st. Investors of record on Friday, October 20th will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.29%. Core Laboratories N.V.’s dividend payout ratio is presently 134.15%.

Several brokerages have commented on CLB. ValuEngine cut shares of Core Laboratories N.V. from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Deutsche Bank AG began coverage on shares of Core Laboratories N.V. in a report on Tuesday. They issued a “buy” rating and a $109.00 target price for the company. Cowen and Company set a $100.00 target price on shares of Core Laboratories N.V. and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research cut shares of Core Laboratories N.V. from a “hold” rating to a “strong sell” rating in a report on Monday, July 17th. Finally, BidaskClub cut shares of Core Laboratories N.V. from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Four analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $110.91.

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Core Laboratories N.V. Profile

Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.

Institutional Ownership by Quarter for Core Laboratories N.V. (NYSE:CLB)

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