Core Laboratories Inc. (NYSE:CLB) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 410,446 shares of the oil and gas company's stock after selling 39,567 shares during the period. Bank of New York Mellon Corp owned about 0.88% of Core Laboratories worth $6,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Core Laboratories by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,723 shares of the oil and gas company's stock valued at $463,000 after purchasing an additional 960 shares during the period. Captrust Financial Advisors increased its position in Core Laboratories by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 55,527 shares of the oil and gas company's stock valued at $961,000 after acquiring an additional 1,728 shares during the period. Rhumbline Advisers increased its holdings in shares of Core Laboratories by 1.7% during the first quarter. Rhumbline Advisers now owns 138,610 shares of the oil and gas company's stock valued at $2,078,000 after purchasing an additional 2,376 shares during the period. MetLife Investment Management LLC increased its holdings in shares of Core Laboratories by 8.8% during the fourth quarter. MetLife Investment Management LLC now owns 29,594 shares of the oil and gas company's stock valued at $512,000 after purchasing an additional 2,388 shares during the period. Finally, WINTON GROUP Ltd increased its holdings in shares of Core Laboratories by 5.7% during the fourth quarter. WINTON GROUP Ltd now owns 49,623 shares of the oil and gas company's stock valued at $859,000 after purchasing an additional 2,683 shares during the period. Institutional investors and hedge funds own 97.81% of the company's stock.

Core Laboratories Price Performance

Shares of CLB traded down $1.63 during mid-day trading on Friday, hitting $11.73. The company's stock had a trading volume of 815,069 shares, compared to its average volume of 522,286. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.27 and a quick ratio of 1.64. The stock has a market capitalization of $549.75 million, a price-to-earnings ratio of 18.91, a PEG ratio of 3.61 and a beta of 1.41. Core Laboratories Inc. has a fifty-two week low of $10.14 and a fifty-two week high of $25.13. The firm has a 50-day moving average price of $11.83 and a 200 day moving average price of $13.87.

Core Laboratories (NYSE:CLB - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Core Laboratories had a return on equity of 14.15% and a net margin of 5.73%. The firm had revenue of $130.16 million for the quarter, compared to analysts' expectations of $129.19 million. During the same quarter last year, the business posted $0.22 EPS. Core Laboratories's revenue was down .3% on a year-over-year basis. On average, research analysts predict that Core Laboratories Inc. will post 0.96 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 4th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, August 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.34%. Core Laboratories's dividend payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

CLB has been the topic of several research analyst reports. Stifel Nicolaus lowered their target price on shares of Core Laboratories from $13.00 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Citigroup lowered their price objective on shares of Core Laboratories from $16.00 to $13.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th. Finally, Wall Street Zen upgraded Core Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday.

About Core Laboratories

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.