Bank of America Corp DE Decreases Stock Position in Core Laboratories Inc. (NYSE:CLB)

Bank of America Corp DE decreased its holdings in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) by 56.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,169 shares of the oil and gas company's stock after selling 124,816 shares during the quarter. Bank of America Corp DE owned about 0.21% of Core Laboratories worth $1,682,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp grew its position in shares of Core Laboratories by 6.3% in the fourth quarter. Van ECK Associates Corp now owns 443,621 shares of the oil and gas company's stock valued at $7,679,000 after purchasing an additional 26,237 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Core Laboratories by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 229,096 shares of the oil and gas company's stock worth $3,966,000 after buying an additional 6,827 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in Core Laboratories in the 4th quarter valued at $615,000. Rice Hall James & Associates LLC purchased a new stake in Core Laboratories in the 4th quarter valued at $1,960,000. Finally, Exchange Capital Management Inc. increased its stake in shares of Core Laboratories by 4.6% in the 4th quarter. Exchange Capital Management Inc. now owns 68,138 shares of the oil and gas company's stock worth $1,179,000 after acquiring an additional 3,024 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CLB. Wall Street Zen cut shares of Core Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Stifel Nicolaus reduced their target price on shares of Core Laboratories from $19.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup dropped their price target on shares of Core Laboratories from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, Core Laboratories currently has an average rating of "Hold" and a consensus target price of $15.00.

Core Laboratories Trading Up 1.8%

Shares of Core Laboratories stock traded up $0.20 during trading hours on Friday, hitting $11.17. The company's stock had a trading volume of 225,564 shares, compared to its average volume of 403,683. The stock has a market cap of $523.59 million, a price-to-earnings ratio of 16.92, a P/E/G ratio of 0.99 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32. Core Laboratories Inc. has a twelve month low of $10.14 and a twelve month high of $25.13. The firm has a fifty day moving average of $11.83 and a 200-day moving average of $15.61.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). The company had revenue of $123.59 million during the quarter, compared to analyst estimates of $125.09 million. Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. The company's quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 EPS. Research analysts forecast that Core Laboratories Inc. will post 0.96 EPS for the current year.

Core Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 5th were issued a $0.01 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.36%. Core Laboratories's dividend payout ratio is presently 6.78%.

Core Laboratories Company Profile

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.