Pinnacle Associates Ltd. Buys 83,519 Shares of Core Laboratories Inc. $CLB

Pinnacle Associates Ltd. purchased a new position in shares of Core Laboratories Inc. (NYSE:CLB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 83,519 shares of the oil and gas company’s stock, valued at approximately $810,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in Core Laboratories during the first quarter valued at $31,000. Isthmus Partners LLC increased its holdings in Core Laboratories by 16.2% in the first quarter. Isthmus Partners LLC now owns 14,509 shares of the oil and gas company’s stock valued at $244,000 after buying an additional 2,027 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in Core Laboratories by 12.9% in the first quarter. Illinois Municipal Retirement Fund now owns 25,642 shares of the oil and gas company’s stock valued at $431,000 after buying an additional 2,930 shares in the last quarter. State of Wyoming raised its position in shares of Core Laboratories by 267.7% in the first quarter. State of Wyoming now owns 4,626 shares of the oil and gas company’s stock worth $78,000 after acquiring an additional 3,368 shares during the period. Finally, Tidal Investments LLC raised its position in shares of Core Laboratories by 13.6% in the second quarter. Tidal Investments LLC now owns 80,853 shares of the oil and gas company’s stock worth $942,000 after acquiring an additional 9,652 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CLB. Weiss Ratings lowered shares of Core Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Johnson Rice upgraded Core Laboratories from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Thursday, August 13th. Finally, Wall Street Zen upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Hold” and an average price target of $21.00.

Insider Transactions at Core Laboratories

In other news, CEO Lawrence Bruno bought 5,000 shares of Core Laboratories stock in a transaction on Friday, July 31st. The shares were bought at an average cost of $10.78 per share, with a total value of $53,900.00. Following the completion of the purchase, the chief executive officer directly owned 262,438 shares of the company’s stock, valued at approximately $2,829,081.64. This trade represents a 1.94% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.26% of the company’s stock.

Core Laboratories Stock Up 5.2%

Shares of CLB opened at $9.89 on Friday. Core Laboratories Inc. has a one year low of $9.13 and a one year high of $20.36. The stock has a market capitalization of $453.89 million, a price-to-earnings ratio of 17.67, a PEG ratio of 1.98 and a beta of 1.14. The stock has a 50 day moving average price of $11.21 and a 200 day moving average price of $12.49. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.55 and a current ratio of 2.12.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, July 29th. The oil and gas company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $124.61 million during the quarter, compared to analysts’ expectations of $126.26 million. Core Laboratories had a net margin of 5.10% and a return on equity of 10.03%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. Core Laboratories has set its Q3 2026 guidance at 0.120-0.200 EPS. Equities research analysts forecast that Core Laboratories Inc. will post 0.56 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 10th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.4%. Core Laboratories’s dividend payout ratio (DPR) is 7.14%.

About Core Laboratories

Core Laboratories N.V. (NYSE: CLB) is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.