Bank of America Corp DE Cuts Stake in Core Laboratories Inc. (NYSE:CLB)

Bank of America Corp DE decreased its position in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) by 56.2% in the fourth quarter, according to the company in 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 period. Bank of America Corp DE owned approximately 0.21% of Core Laboratories worth $1,682,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. purchased a new position in shares of Core Laboratories during the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC lifted its holdings in shares of Core Laboratories by 173.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company's stock valued at $35,000 after acquiring an additional 1,293 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Core Laboratories by 843.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company's stock valued at $57,000 after acquiring an additional 2,936 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Core Laboratories in the 4th quarter valued at about $123,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Core Laboratories in the 4th quarter valued at about $149,000. Hedge funds and other institutional investors own 97.81% of the company's stock.

Core Laboratories Trading Up 1.8%

NYSE CLB traded up $0.20 during trading on Friday, hitting $11.17. The stock had a trading volume of 225,570 shares, compared to its average volume of 401,808. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32. The stock has a market capitalization 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. Core Laboratories Inc. has a one year low of $10.14 and a one year high of $25.13. The stock has a 50 day simple moving average of $11.76 and a 200 day simple moving average of $15.48.

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

Core Laboratories Dividend Announcement

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

Wall Street Analyst Weigh In

CLB has been the subject of a number of analyst reports. Citigroup lowered their price target on shares of Core Laboratories from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Stifel Nicolaus lowered their price target on shares of Core Laboratories from $19.00 to $15.00 and set a "hold" rating for the company in a report on Tuesday, April 15th. Finally, Wall Street Zen downgraded shares of Core Laboratories from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Core Laboratories has an average rating of "Hold" and an average target price of $15.00.

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.