Bank of America Corp DE Has $3.77 Million Position in Core Laboratories Inc. $CLB

Key Points

• Bank of America increased its Core Laboratories stake by 59.6% in the first quarter, purchasing 83,918 additional shares for a total position worth approximately $3.77 million. Institutional investors collectively own 97.81% of the company.
• Core Laboratories reported quarterly EPS of $0.11, beating estimates of $0.09, while revenue fell 4.3% year over year to $124.61 million. The company issued third-quarter EPS guidance of $0.12–$0.20.
• Analyst sentiment improved, with Johnson Rice upgrading the stock to “buy” and setting a $21 price target; MarketBeat lists a “Moderate Buy” consensus rating. CEO Lawrence Bruno also purchased 5,000 shares, while the company declared a quarterly dividend of $0.01 per share.

Bank of America Corp DE increased its holdings in Core Laboratories Inc. (NYSE:CLB - Free Report) by 59.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,618 shares of the oil and gas company's stock after purchasing an additional 83,918 shares during the period. Bank of America Corp DE owned approximately 0.49% of Core Laboratories worth $3,771,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Core Laboratories by 185.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 845,251 shares of the oil and gas company's stock valued at $13,549,000 after acquiring an additional 548,657 shares during the period. Disciplined Growth Investors Inc. MN grew its holdings in shares of Core Laboratories by 9.7% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 5,969,860 shares of the oil and gas company's stock worth $73,787,000 after purchasing an additional 528,976 shares during the last quarter. MAC Alpha Capital Management LP bought a new stake in shares of Core Laboratories in the 4th quarter worth about $5,016,000. Heartland Advisors Inc. acquired a new stake in shares of Core Laboratories during the 1st quarter worth about $2,518,000. Finally, Renaissance Technologies LLC increased its position in shares of Core Laboratories by 436.6% during the 4th quarter. Renaissance Technologies LLC now owns 183,400 shares of the oil and gas company's stock worth $2,940,000 after purchasing an additional 149,219 shares in the last quarter. Institutional investors own 97.81% of the company's stock.

Insider Buying and Selling

In other Core Laboratories news, CEO Lawrence Bruno acquired 5,000 shares of the business's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $10.78 per share, with a total value of $53,900.00. Following the completion of the transaction, the chief executive officer directly owned 262,438 shares in the company, valued at $2,829,081.64. This trade represents a 1.94% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 1.26% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Johnson Rice raised shares of Core Laboratories from a "hold" rating to a "buy" rating and set a $21.00 price objective on the stock in a research note on Thursday, August 13th. Weiss Ratings upgraded shares of Core Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Core Laboratories from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $21.00.

Core Laboratories Trading Up 0.7%

Shares of NYSE CLB opened at $12.38 on Friday. The company's 50 day simple moving average is $11.55 and its 200 day simple moving average is $14.21. Core Laboratories Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $20.36. The firm has a market capitalization of $567.99 million, a P/E ratio of 22.11, a P/E/G ratio of 2.44 and a beta of 1.03. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.12 and a quick ratio of 1.55.

Core Laboratories (NYSE:CLB - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.02. Core Laboratories had a return on equity of 10.03% and a net margin of 5.10%.The business had revenue of $124.61 million during the quarter, compared to the consensus estimate of $126.26 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The firm's revenue was down 4.3% on a year-over-year basis. Core Laboratories has set its Q3 2026 guidance at 0.120-0.200 EPS. On average, analysts predict that Core Laboratories Inc. will post 0.56 EPS for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 10th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Core Laboratories's dividend payout ratio (DPR) is presently 7.14%.

About Core Laboratories

Core Laboratories N.V. is a global provider of proprietary and patented reservoir description and production enhancement services to the oil and gas industry. The company applies specialized expertise in core and fluid analysis, advanced petrophysical interpretation, and reservoir engineering to optimize hydrocarbon recovery. By integrating laboratory testing with field services and digital analytics, Core Laboratories delivers insights that help operators maximize production and extend the life of their assets.

The company's portfolio spans two primary service lines: reservoir description and production enhancement.

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