Garde Capital Inc. Purchases New Position in Core Laboratories NV (CLB)

13 Août, 2017, 19:36 | Author: Marc Bacque

B & T Capital Management DBA Alpha Capital Management increased its position in shares of Core Laboratories N.V. (NYSE:CLB) by 5.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,892 shares of the oil and gas company's stock after buying an additional 813 shares during the period.

Core Laboratories N.V., launched on July 8, 1994, provides reservoir description, production enhancement and reservoir management services to the oil and gas industry.

The following firms have also recently changed their position in CLB. RidgeWorth Capital Management LLC bought a new stake in shares of Core Laboratories N.V. during the first quarter worth approximately $41,116,000. Parallel Advisors LLC now owns 891 shares of the oil and gas company's stock worth $101,000 after buying an additional 223 shares during the period. Finally, Norges Bank acquired a new position in shares of Core Laboratories N.V. during the fourth quarter worth $31,248,000. Advisory Services Network LLC acquired a new position in shares of Core Laboratories N.V. during the first quarter worth about $118,000. FNY Managed Accounts LLC acquired a new position in Core Laboratories N.V. during the first quarter valued at about $123,000. Sei Investments Co. raised its position in Core Laboratories 59.0% in the second quarter. Core Laboratories N.V. has a one year low of $92.81 and a one year high of $125.83. (NYSE:CLB) opened at 92.92 on Friday. The company has a 50 day moving average of $101.46 and a 200 day moving average of $108.84. The firm has a market capitalization of $4.10 billion, a P/E ratio of 57.01 and a beta of 1.60.

Core Laboratories N.V. had a return on equity of 49.29% and a net margin of 11.80%. (NYSE:CLB) last released its earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.51 by $0.01. The firm had revenue of $163.90 million during the quarter, compared to analysts' expectations of $168.23 million. During the same quarter a year ago, the firm earned $0.35 EPS. The business's revenue for the quarter was up 10.7% on a year-over-year basis.

Additionally the company recently declared a dividend that will be paid on Monday the 14th of August 2017. Investors of record on Monday, July 17th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is set for Thursday the 13th of July 2017. Analysts predict that Core Laboratories N.V. will post $2.09 earnings per share for the current fiscal year.

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A number of brokerages have commented on CLB.

Shares of Core Laboratories N.V. Zacks Investment Research upgraded Core Laboratories N.V. from a "hold" rating to a "buy" rating and set a $116.00 price objective for the company in a research report on Monday, June 12th. Loop Capital upgraded Core Laboratories N.V. from a "hold" rating to a "buy" rating and boosted their price target for the company from $125.00 to $130.00 in a report on Friday, April 21st. BidaskClub downgraded Core Laboratories N.V. from a "hold" rating to a "sell" rating in a report on Monday, July 31st.

On August 7 Morgan Stanley held the company rating at "Overweight" and lowered the price target to $125.00 from $140.00. Core Laboratories N.V. presently has an average rating of "Hold" and an average price target of $117.17.

About Core Laboratories N.V. The Reservoir Management segment combines and integrates information from reservoir description and production enhancement services to increase production and recovery of oil and gas from its clients' reservoirs. 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.

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