Mackenzie Financial Corp Makes New Investment in Core Laboratories Inc. (NYSE:CLB)

Mackenzie Financial Corp bought a new stake in shares of Core Laboratories Inc. (NYSE:CLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 23,386 shares of the oil and gas company's stock, valued at approximately $405,000.

Several other hedge funds also recently bought and sold shares of CLB. Boston Trust Walden Corp raised its holdings in Core Laboratories by 2.7% during the fourth quarter. Boston Trust Walden Corp now owns 617,336 shares of the oil and gas company's stock valued at $10,686,000 after acquiring an additional 16,503 shares during the period. Van ECK Associates Corp raised its position in shares of Core Laboratories by 6.3% during the fourth quarter. Van ECK Associates Corp now owns 443,621 shares of the oil and gas company's stock valued at $7,679,000 after buying an additional 26,237 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Core Laboratories by 3.1% during the fourth quarter. Principal Financial Group Inc. now owns 229,096 shares of the oil and gas company's stock valued at $3,966,000 after buying an additional 6,827 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new stake in shares of Core Laboratories during the fourth quarter valued at approximately $615,000. Finally, Rice Hall James & Associates LLC bought a new stake in shares of Core Laboratories during the fourth quarter valued at approximately $1,960,000. Institutional investors own 97.81% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on CLB. Stifel Nicolaus reduced their price objective 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. Wall Street Zen downgraded Core Laboratories from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Citigroup dropped their price objective on shares of Core Laboratories from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.00.

Core Laboratories Trading Up 1.8%

Shares of CLB traded up $0.20 during trading hours on Friday, reaching $11.17. 225,570 shares of the company traded hands, compared to its average volume of 401,808. The firm has a market cap of $523.59 million, a price-to-earnings ratio of 16.92, a PEG ratio of 0.99 and a beta of 1.40. Core Laboratories Inc. has a 12-month low of $10.14 and a 12-month high of $25.13. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.49. The stock's fifty day moving average price is $11.76 and its 200 day moving average price is $15.55.

Core Laboratories (NYSE:CLB - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $123.59 million during the quarter, compared to the consensus estimate of $125.09 million. Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. The business's revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Sell-side analysts forecast that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 5th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.36%. Core Laboratories's dividend payout ratio is presently 6.78%.

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.