Millennium Management LLC Raises Stake in Core Laboratories Inc. (NYSE:CLB)

Millennium Management LLC grew its position in Core Laboratories Inc. (NYSE:CLB - Free Report) by 429.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,616 shares of the oil and gas company's stock after purchasing an additional 53,213 shares during the quarter. Millennium Management LLC owned approximately 0.14% of Core Laboratories worth $1,136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Core Laboratories by 3.7% in the 4th 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 in the last quarter. Gotham Asset Management LLC acquired a new stake in shares of Core Laboratories in the 4th quarter valued at $187,000. Ethic Inc. grew its position in shares of Core Laboratories by 43.6% in the 4th quarter. Ethic Inc. now owns 14,451 shares of the oil and gas company's stock valued at $250,000 after buying an additional 4,389 shares during the last quarter. Fred Alger Management LLC grew its position in shares of Core Laboratories by 3.8% in the 4th quarter. Fred Alger Management LLC now owns 556,509 shares of the oil and gas company's stock valued at $9,633,000 after buying an additional 20,596 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Core Laboratories by 45.6% in the 4th quarter. Deutsche Bank AG now owns 46,317 shares of the oil and gas company's stock valued at $802,000 after buying an additional 14,503 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

Core Laboratories Stock Performance

Core Laboratories stock traded up $0.20 during midday trading on Friday, hitting $11.17. 225,570 shares of the company's stock were exchanged, compared to its average volume of 401,808. Core Laboratories Inc. has a 12-month low of $10.14 and a 12-month high of $25.13. 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 cap of $523.59 million, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 0.99 and a beta of 1.40. The firm's 50 day simple moving average is $11.76 and its 200 day simple moving average is $15.48.

Core Laboratories (NYSE:CLB - Get Free Report) last issued 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). Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. The business had revenue of $123.59 million for the quarter, compared to analysts' expectations of $125.09 million. During the same period in the previous year, the business posted $0.19 earnings per share. The company's revenue for the quarter was down 4.7% on a year-over-year basis. Equities research analysts predict that Core Laboratories Inc. will post 0.96 EPS for the current year.

Core Laboratories Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CLB. Citigroup dropped their target price on shares of Core Laboratories from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Stifel Nicolaus dropped their target price on shares of Core Laboratories from $19.00 to $15.00 and set a "hold" rating on the stock in a research report on Tuesday, April 15th. Finally, Wall Street Zen downgraded shares of Core Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $15.00.

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.