Bank of New York Mellon Corp Makes New Investment in Core Laboratories Inc. $CLB

Key Points

• Bank of New York Mellon acquired 401,283 Core Laboratories shares worth approximately $4.7 million, representing about 0.87% of the company. Institutional investors and hedge funds collectively own 97.81% of CLB.
• Analyst sentiment improved, with Johnson Rice upgrading CLB to “buy” and setting a $21 price target; the stock has a consensus rating of “Moderate Buy.” CEO Lawrence Bruno also purchased 5,000 shares.
• Core Laboratories exceeded quarterly earnings expectations with EPS of $0.11 versus the $0.09 consensus, although revenue fell 4.3% year over year to $124.6 million. Shares opened at $12.51, well below their 52-week high of $20.36.

Bank of New York Mellon Corp bought a new position in Core Laboratories Inc. (NYSE:CLB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 401,283 shares of the oil and gas company's stock, valued at approximately $4,675,000. Bank of New York Mellon Corp owned approximately 0.87% of Core Laboratories at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Heartland Advisors Inc. purchased a new stake in Core Laboratories in the 1st quarter worth about $2,518,000. Dimensional Fund Advisors LP increased its stake in shares of Core Laboratories by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,352,329 shares of the oil and gas company's stock worth $22,705,000 after acquiring an additional 122,718 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Core Laboratories by 59.6% in the first quarter. Bank of America Corp DE now owns 224,618 shares of the oil and gas company's stock worth $3,771,000 after acquiring an additional 83,918 shares during the last quarter. UBS Group AG boosted its position in Core Laboratories by 32.9% during the fourth quarter. UBS Group AG now owns 412,515 shares of the oil and gas company's stock valued at $6,613,000 after purchasing an additional 102,151 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Core Laboratories during the 2nd quarter valued at about $555,000. 97.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Lawrence Bruno acquired 5,000 shares of the firm's stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $10.78 per share, with a total value of $53,900.00. Following the acquisition, the chief executive officer directly owned 262,438 shares in the company, valued at $2,829,081.64. The trade was a 1.94% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.26% of the stock is currently owned by corporate insiders.

Core Laboratories Stock Down 0.2%

Shares of NYSE:CLB opened at $12.51 on Friday. The company's fifty day moving average is $11.67 and its 200-day moving average is $14.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.55 and a current ratio of 2.12. Core Laboratories Inc. has a 52 week low of $9.79 and a 52 week high of $20.36. The company has a market capitalization of $573.96 million, a PE ratio of 22.34, a P/E/G ratio of 2.48 and a beta of 1.08.

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

Core Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 10th were given a dividend of $0.01 per share. The ex-dividend date was Monday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.3%. Core Laboratories's dividend payout ratio is 7.14%.

Core Laboratories Profile

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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