Forsta AP Fonden Trims Position in Core Laboratories (CLB)

Forsta AP Fonden decreased its stake in shares of Core Laboratories (NYSE:CLB) by 4.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 147,777 shares of the oil and gas company’s stock after selling 7,000 shares during the period. Forsta AP Fonden’s holdings in Core Laboratories were worth $18,651,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Millennium Management LLC lifted its position in Core Laboratories by 9,329.6% during the 2nd quarter. Millennium Management LLC now owns 226,594 shares of the oil and gas company’s stock worth $28,598,000 after buying an additional 224,191 shares in the last quarter. grace capital acquired a new position in Core Laboratories during the 2nd quarter worth about $593,000. New England Asset Management Inc. acquired a new position in Core Laboratories during the 2nd quarter worth about $730,000. Signaturefd LLC lifted its position in Core Laboratories by 403.7% during the 2nd quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock worth $102,000 after buying an additional 650 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in Core Laboratories by 1.0% during the 2nd quarter. Macquarie Group Ltd. now owns 135,222 shares of the oil and gas company’s stock worth $17,066,000 after buying an additional 1,273 shares in the last quarter.

CLB has been the topic of several research reports. Citigroup upgraded shares of Core Laboratories from a “sell” rating to a “neutral” rating and set a $117.00 price target on the stock in a research report on Monday, August 13th. Edward Jones assumed coverage on shares of Core Laboratories in a research report on Tuesday, September 4th. They set a “buy” rating on the stock. ValuEngine downgraded shares of Core Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. ABN Amro downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, Royal Bank of Canada cut their target price on shares of Core Laboratories to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, July 5th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. Core Laboratories presently has an average rating of “Hold” and a consensus price target of $115.08.

Core Laboratories stock opened at $109.37 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.85 and a current ratio of 2.24. Core Laboratories has a 1 year low of $87.66 and a 1 year high of $130.34. The stock has a market cap of $4.90 billion, a price-to-earnings ratio of 49.88, a price-to-earnings-growth ratio of 3.79 and a beta of 1.50.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.59. Core Laboratories had a net margin of 13.32% and a return on equity of 64.13%. The company had revenue of $175.48 million for the quarter, compared to the consensus estimate of $174.47 million. During the same period in the prior year, the company posted $0.51 EPS. The company’s revenue was up 10.9% compared to the same quarter last year. analysts forecast that Core Laboratories will post 2.44 earnings per share for the current year.

Core Laboratories Company 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.

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

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