Core Laboratories (CLB) Stake Boosted by Franklin Resources Inc.

Franklin Resources Inc. lifted its holdings in Core Laboratories (NYSE:CLB) by 2.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 471,600 shares of the oil and gas company’s stock after acquiring an additional 10,600 shares during the period. Franklin Resources Inc. owned 1.07% of Core Laboratories worth $54,626,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Core Laboratories by 26.5% during the second quarter. BNP Paribas Arbitrage SA now owns 6,739 shares of the oil and gas company’s stock valued at $851,000 after buying an additional 1,411 shares during the last quarter. Aperio Group LLC boosted its stake in Core Laboratories by 10.8% during the second quarter. Aperio Group LLC now owns 22,070 shares of the oil and gas company’s stock valued at $2,785,000 after buying an additional 2,144 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Core Laboratories by 22.6% during the second quarter. Commonwealth Equity Services LLC now owns 3,561 shares of the oil and gas company’s stock valued at $449,000 after buying an additional 657 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in Core Laboratories by 11.1% during the second quarter. Crossmark Global Holdings Inc. now owns 4,910 shares of the oil and gas company’s stock valued at $620,000 after buying an additional 490 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Core Laboratories by 22.3% during the second quarter. New York State Teachers Retirement System now owns 11,500 shares of the oil and gas company’s stock valued at $1,451,000 after buying an additional 2,100 shares during the last quarter.

A number of brokerages recently commented on CLB. Zacks Investment Research reissued a “sell” rating on shares of Core Laboratories in a research note on Monday, November 12th. ValuEngine raised Core Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Cowen set a $82.00 price target on Core Laboratories and gave the company a “hold” rating in a research note on Monday, December 3rd. Stifel Nicolaus began coverage on Core Laboratories in a research note on Monday, September 10th. They set a “hold” rating and a $117.00 price target for the company. Finally, Morgan Stanley began coverage on Core Laboratories in a research note on Tuesday, September 18th. They set an “equal weight” rating and a $125.00 price target for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $111.09.

NYSE:CLB opened at $75.00 on Friday. The company has a market capitalization of $3.37 billion, a PE ratio of 32.02, a P/E/G ratio of 2.40 and a beta of 1.65. Core Laboratories has a 1 year low of $74.89 and a 1 year high of $130.34. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.31 and a quick ratio of 1.85.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.01. The business had revenue of $182.15 million during the quarter, compared to analyst estimates of $178.11 million. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The company’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period last year, the company earned $0.46 EPS. Research analysts expect that Core Laboratories will post 2.3 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Friday, October 19th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.93%. The ex-dividend date was Thursday, October 18th. Core Laboratories’s payout ratio is 110.00%.

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About Core Laboratories

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.

Further Reading: Balance Sheet

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

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