Goldman Sachs Group Inc. Sells 61,343 Shares of Core Laboratories Inc. $CLB

Key Points

• Goldman Sachs Group Inc. has reduced its ownership in Core Laboratories by 24.0%, selling 61,343 shares to hold 193,939 shares, representing about 0.41% of the company.
• Core Laboratories declared a quarterly dividend of $0.01 per share, with an annualized dividend yield of 0.3%.
• Core Laboratories reported Q2 earnings of $0.19 per share, surpassing analyst expectations, despite a revenue decline of 0.3% compared to the previous year.

Goldman Sachs Group Inc. cut its holdings in Core Laboratories Inc. (NYSE:CLB - Free Report) by 24.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 193,939 shares of the oil and gas company's stock after selling 61,343 shares during the period. Goldman Sachs Group Inc. owned 0.41% of Core Laboratories worth $2,907,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CLB. BNP Paribas Financial Markets bought a new position in Core Laboratories during the fourth quarter valued at about $123,000. Deutsche Bank AG increased its stake in Core Laboratories by 45.6% during the fourth quarter. Deutsche Bank AG now owns 46,317 shares of the oil and gas company's stock valued at $802,000 after acquiring an additional 14,503 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Core Laboratories by 3.7% during 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 acquiring an additional 960 shares during the period. Millennium Management LLC increased its stake in Core Laboratories by 429.0% during the fourth quarter. Millennium Management LLC now owns 65,616 shares of the oil and gas company's stock valued at $1,136,000 after acquiring an additional 53,213 shares during the period. Finally, Quantinno Capital Management LP bought a new position in Core Laboratories during the fourth quarter valued at about $195,000. 97.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CLB has been the topic of a number of recent research reports. Wall Street Zen raised Core Laboratories from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Zacks Research raised Core Laboratories from a "strong sell" rating to a "hold" rating in a report on Friday, August 15th. Finally, Stifel Nicolaus decreased their price objective on Core Laboratories from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.50.

Core Laboratories Trading Up 6.1%

NYSE:CLB traded up $0.74 during trading hours on Tuesday, hitting $12.87. 49,514 shares of the stock were exchanged, compared to its average volume of 470,168. The company's 50 day moving average is $11.47 and its two-hundred day moving average is $12.16. Core Laboratories Inc. has a twelve month low of $9.72 and a twelve month high of $21.83. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $603.29 million, a P/E ratio of 20.85, a price-to-earnings-growth ratio of 3.61 and a beta of 1.46.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to the consensus estimate of $129.19 million. Core Laboratories had a return on equity of 14.15% and a net margin of 5.73%.The business's revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 EPS. Core Laboratories has set its Q3 2025 guidance at 0.180-0.220 EPS. On average, sell-side analysts anticipate that Core Laboratories Inc. will post 0.96 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 4th were given a $0.01 dividend. The ex-dividend date was Monday, August 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.3%. Core Laboratories's dividend payout ratio is currently 6.45%.

Core Laboratories 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.