Earnest Partners LLC Sells 54,441 Shares of Core Laboratories Inc. $CLB

Key Points

• Earnest Partners LLC reduced its stake in Core Laboratories Inc. by 1.5%, selling 54,441 shares to hold approximately 3,630,279 shares, worth around $54.4 million.
• Several hedge funds have increased their positions in Core Laboratories, including AlphaQuest LLC which raised its stake by 265,800%.
• Core Laboratories reported earnings of $0.19 per share for the last quarter, exceeding analyst expectations, despite a 0.3% decline in year-over-year revenue.

Earnest Partners LLC cut its stake in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,630,279 shares of the oil and gas company's stock after selling 54,441 shares during the period. Earnest Partners LLC owned about 7.74% of Core Laboratories worth $54,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its position in Core Laboratories by 265,800.0% during the first quarter. AlphaQuest LLC now owns 2,659 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 2,658 shares in the last quarter. Assetmark Inc. grew its position in Core Laboratories by 92.5% during the first quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 1,387 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in Core Laboratories by 843.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company's stock valued at $57,000 after acquiring an additional 2,936 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Core Laboratories in the fourth quarter valued at approximately $123,000. Finally, XTX Topco Ltd acquired a new stake in Core Laboratories in the first quarter valued at approximately $155,000. 97.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on CLB shares. Stifel Nicolaus reduced their target price on shares of Core Laboratories from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Zacks Research upgraded shares of Core Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Citigroup dropped their price target 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. Finally, Wall Street Zen raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Three analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $12.50.

Core Laboratories Price Performance

Core Laboratories stock traded up $0.22 during mid-day trading on Monday, hitting $11.54. 376,851 shares of the company were exchanged, compared to its average volume of 454,950. The business has a fifty day moving average of $11.45 and a 200 day moving average of $12.53. 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 $540.88 million, a PE ratio of 18.60, a price-to-earnings-growth ratio of 3.48 and a beta of 1.46. Core Laboratories Inc. has a 1-year low of $9.72 and a 1-year high of $21.83.

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 (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. Core Laboratories had a return on equity of 14.15% and a net margin of 5.73%.The business had revenue of $130.16 million for the quarter, compared to analyst estimates of $129.19 million. During the same quarter in the prior year, the firm posted $0.22 earnings per share. The firm's revenue for the quarter was down .3% compared to the same quarter last year. Core Laboratories has set its Q3 2025 guidance at 0.180-0.220 EPS. As a group, sell-side analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 4th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.3%. Core Laboratories's payout ratio is 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.