Earnest Partners Lowers stake in Core Laboratories N.V. (CLB)

Core Laboratories N.V. (CLB) : Earnest Partners reduced its stake in Core Laboratories N.V. by 5.22% during the most recent quarter end. The investment management company now holds a total of 2,365,062 shares of Core Laboratories N.V. which is valued at $272,526,094 after selling 130,242 shares in Core Laboratories N.V. , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Core Laboratories N.V. makes up approximately 2.65% of Earnest Partners’s portfolio.

Other Hedge Funds, Including , Bamco Inc Ny reduced its stake in CLB by selling 247,700 shares or 86.45% in the most recent quarter. The Hedge Fund company now holds 38,820 shares of CLB which is valued at $4,473,229. Core Laboratories N.V. makes up approx 0.02% of Bamco Inc Ny’s portfolio.Parametric Portfolio Associates boosted its stake in CLB in the latest quarter, The investment management firm added 53,553 additional shares and now holds a total of 141,293 shares of Core Laboratories N.V. which is valued at $16,281,192. Core Laboratories N.V. makes up approx 0.02% of Parametric Portfolio Associates’s portfolio.Penbrook Management reduced its stake in CLB by selling 200 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 11,488 shares of CLB which is valued at $1,323,877. Core Laboratories N.V. makes up approx 1.33% of Penbrook Management’s portfolio.Telemus Capital boosted its stake in CLB in the latest quarter, The investment management firm added 278 additional shares and now holds a total of 14,979 shares of Core Laboratories N.V. which is valued at $1,855,449. Core Laboratories N.V. makes up approx 0.21% of Telemus Capital’s portfolio.

Core Laboratories N.V. closed down -0.35 points or -0.31% at $111.43 with 5,68,143 shares getting traded on Thursday. Post opening the session at $111.2, the shares hit an intraday low of $107.96 and an intraday high of $111.71 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Core Laboratories N.V. reported $0.35 EPS for the quarter, based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus estimate of $0.35. The company had revenue of $148.10 million for the quarter, compared to analysts expectations of $146.21 million. The company’s revenue was down -27.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.81 EPS.

Many Wall Street Analysts have commented on Core Laboratories N.V.. Credit Suisse Initiated Core Laboratories N.V. on Sep 1, 2016 to “Neutral”, Price Target of the shares are set at $115.JP Morgan Initiated Core Laboratories N.V. on Jun 10, 2016 to “Overweight”, Price Target of the shares are set at $120.

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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