BlackRock Inc. acquired a new stake in Core Laboratories Inc. (NYSE:CLB - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,460,118 shares of the oil and gas company's stock, valued at approximately $86,910,000. BlackRock Inc. owned 16.26% of Core Laboratories as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. Heartland Advisors Inc. purchased a new position in Core Laboratories during the 1st quarter worth $2,518,000. Dimensional Fund Advisors LP increased its stake in shares of Core Laboratories by 10.0% during 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 period. Rice Hall James & Associates LLC purchased a new position in shares of Core Laboratories during the 2nd quarter worth approximately $1,184,000. UBS Group AG lifted its holdings in shares of Core Laboratories by 32.9% in the 4th quarter. UBS Group AG now owns 412,515 shares of the oil and gas company's stock valued at $6,613,000 after buying an additional 102,151 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Core Laboratories in the 2nd quarter valued at approximately $555,000. 97.81% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Core Laboratories
In related news, CEO Lawrence Bruno bought 5,000 shares of the stock in a transaction dated Friday, July 31st. The stock was acquired at an average price of $10.78 per share, for a total transaction of $53,900.00. Following the completion of the purchase, the chief executive officer owned 262,438 shares in the company, valued at $2,829,081.64. This represents a 1.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.26% of the company's stock.
Core Laboratories Stock Performance
Core Laboratories stock opened at $12.38 on Friday. The company has a market capitalization of $567.99 million, a price-to-earnings ratio of 22.11, a PEG ratio of 2.44 and a beta of 1.03. Core Laboratories Inc. has a fifty-two week low of $9.79 and a fifty-two week high of $20.36. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.55 and a current ratio of 2.12. The stock has a fifty day moving average of $11.55 and a two-hundred day moving average of $14.21.
Core Laboratories (NYSE:CLB - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. Core Laboratories had a net margin of 5.10% and a return on equity of 10.03%. The business had revenue of $124.61 million for the quarter, compared to the consensus estimate of $126.26 million. During the same quarter in the prior year, the firm posted $0.19 earnings per share. The company's quarterly revenue was down 4.3% compared to the same quarter last year. Core Laboratories has set its Q3 2026 guidance at 0.120-0.200 EPS. On average, analysts anticipate that Core Laboratories Inc. will post 0.56 EPS for the current fiscal year.
Core Laboratories Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 10th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Monday, August 10th. Core Laboratories's dividend payout ratio (DPR) is 7.14%.
Wall Street Analysts Forecast Growth
CLB has been the subject of several research analyst reports. Weiss Ratings upgraded Core Laboratories from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Wall Street Zen upgraded shares of Core Laboratories from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. Finally, 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 report on Thursday, August 13th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $21.00.
Check Out Our Latest Stock Analysis on Core Laboratories
About Core Laboratories
(
Free Report)
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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