Kayne Anderson Rudnick Investment Management buys $172.1 Million stake in Core Laboratories N.V. (CLB)

Core Laboratories N.V. (CLB) : Kayne Anderson Rudnick Investment Management scooped up 64,461 additional shares in Core Laboratories N.V. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,470,924 shares of Core Laboratories N.V. which is valued at $172.1 Million.Core Laboratories N.V. makes up approximately 2.81% of Kayne Anderson Rudnick Investment Management’s portfolio.

Other Hedge Funds, Including , Ariel Investments boosted its stake in CLB in the latest quarter, The investment management firm added 23,320 additional shares and now holds a total of 305,469 shares of Core Laboratories N.V. which is valued at $35.7 Million. Core Laboratories N.V. makes up approx 0.44% of Ariel Investments’s portfolio.Mitsubishi Ufj Trust Banking Corp reduced its stake in CLB by selling 170 shares or 0.2% in the most recent quarter. The Hedge Fund company now holds 83,076 shares of CLB which is valued at $9.7 Million. Core Laboratories N.V. makes up approx 0.02% of Mitsubishi Ufj Trust Banking Corp’s portfolio.Keybank National Associationoh reduced its stake in CLB by selling 191 shares or 0.33% in the most recent quarter. The Hedge Fund company now holds 58,271 shares of CLB which is valued at $6.8 Million. Core Laboratories N.V. makes up approx 0.05% of Keybank National Associationoh’s portfolio. Rmb Capital Management added CLB to its portfolio by purchasing 134,329 company shares during the most recent quarter which is valued at $15.7 Million. Core Laboratories N.V. makes up approx 1.16% of Rmb Capital Management’s portfolio.

Core Laboratories N.V. opened for trading at $120.15 and hit $123.21 on the upside on Wednesday, eventually ending the session at $122.64, with a gain of 2.89% or 3.45 points. The heightened volatility saw the trading volume jump to 4,19,055 shares. Company has a market cap of $5,200 M.

On the company’s financial health, Core Laboratories N.V. reported $0.37 EPS for the quarter, based on the information available during the earnings call on Apr 20, 2016. Analyst had a consensus estimate of $0.37. The company had revenue of $153.65 million for the quarter, compared to analysts expectations of $156.67 million. The company’s revenue was down -28.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.86 EPS.

Many Wall Street Analysts have commented on Core Laboratories N.V.. Company shares were Reiterated by Cowen on Apr 22, 2016 to “Market Perform”, Firm has raised the Price Target to $ 105 from a previous price target of $80 .Company shares were Reiterated by RBC Capital Mkts on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 137 from a previous price target of $128 .Core Laboratories N.V. was Initiated by Citigroup to “Neutral” on Feb 29, 2016.

Core Laboratories N.V. (Core Lab) is a provider of proprietary and patented reservoir description production enhancement and reservoir management services to the oil and gas industry. These services and products are directed toward enabling its clients to improve reservoir performance and increase oil and gas recovery from their producing fields. The Company operates in three segments: Reservoir Description Production Enhancement and Reservoir Management. The Company provides analytical and field services to characterize properties of crude oil and petroleum products to the oil and gas industry.

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