Exchange Capital Management Inc. Sells 38,138 Shares of Core Laboratories Inc. $CLB

Key Points

• Exchange Capital Management Inc. has reduced its stake in Core Laboratories Inc. by 51.8%, now holding 35,489 shares valued at approximately $409,000.
• Several institutional investors have adjusted their stakes in Core Laboratories, with Oppenheimer Asset Management increasing its investment by 19.8% and GAMMA Investing LLC boosting its stake by an astonishing 972.6%.
• Core Laboratories recently reported a Q2 EPS of $0.19, surpassing expectations, while also announcing a quarterly dividend of $0.01 per share, reflecting a yield of 0.3%.

Exchange Capital Management Inc. lessened its stake in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) by 51.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,489 shares of the oil and gas company's stock after selling 38,138 shares during the quarter. Exchange Capital Management Inc. owned about 0.08% of Core Laboratories worth $409,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its stake in Core Laboratories by 19.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 69,184 shares of the oil and gas company's stock worth $1,037,000 after buying an additional 11,438 shares during the period. Assetmark Inc. raised its position in shares of Core Laboratories by 92.5% during the first quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company's stock worth $43,000 after purchasing an additional 1,387 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Core Laboratories by 26.9% in the 1st quarter. Public Sector Pension Investment Board now owns 148,476 shares of the oil and gas company's stock worth $2,226,000 after purchasing an additional 31,485 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Core Laboratories by 1.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 254,005 shares of the oil and gas company's stock valued at $3,808,000 after purchasing an additional 3,357 shares during the period. Finally, GAMMA Investing LLC increased its stake in Core Laboratories by 972.6% during the 1st quarter. GAMMA Investing LLC now owns 68,669 shares of the oil and gas company's stock valued at $1,029,000 after purchasing an additional 62,267 shares in the last quarter. 97.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on CLB. Stifel Nicolaus dropped their price objective 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. Wall Street Zen upgraded shares of Core Laboratories from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Core Laboratories in a research note on Saturday, September 27th. Finally, Zacks Research raised Core Laboratories from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Reduce" and an average target price of $12.50.

Core Laboratories Trading Up 1.7%

Shares of CLB stock opened at $12.18 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.70 and a current ratio of 2.27. The company has a market capitalization of $571.12 million, a price-to-earnings ratio of 19.65, a PEG ratio of 3.62 and a beta of 1.38. Core Laboratories Inc. has a 52-week low of $9.72 and a 52-week high of $21.83. The company has a 50-day simple moving average of $11.56 and a two-hundred day simple moving average of $12.04.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The oil and gas company reported $0.19 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 analysts' expectations of $129.19 million. Core Laboratories had a net margin of 5.73% and a return on equity of 14.15%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.22 EPS. Core Laboratories has set its Q3 2025 guidance at 0.180-0.220 EPS. Research analysts anticipate that Core Laboratories Inc. will post 0.96 EPS for the current fiscal year.

Core Laboratories Announces Dividend

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

Core Laboratories Company 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.

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