Friedberg Investment Management Lowers stake in Core Laboratories N.V. (CLB)

Core Laboratories N.V. (CLB) : Friedberg Investment Management reduced its stake in Core Laboratories N.V. by 1.79% during the most recent quarter end. The investment management company now holds a total of 55,870 shares of Core Laboratories N.V. which is valued at $6,437,900 after selling 1,020 shares in Core Laboratories N.V. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Core Laboratories N.V. makes up approximately 2.97% of Friedberg Investment Management’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in CLB in the latest quarter, The investment management firm added 64,152 additional shares and now holds a total of 3,405,963 shares of Core Laboratories N.V. which is valued at $392,469,116. Core Laboratories N.V. makes up approx 0.02% of Vanguard Group Inc’s portfolio.Sandy Spring Bank reduced its stake in CLB by selling 149 shares or 2.31% in the most recent quarter. The Hedge Fund company now holds 6,292 shares of CLB which is valued at $753,467. Core Laboratories N.V. makes up approx 0.08% of Sandy Spring Bank’s portfolio.Eaton Vance Management reduced its stake in CLB by selling 250 shares or 1.62% in the most recent quarter. The Hedge Fund company now holds 15,148 shares of CLB which is valued at $1,773,831.Commonwealth Equity Services Inc boosted its stake in CLB in the latest quarter, The investment management firm added 214 additional shares and now holds a total of 3,993 shares of Core Laboratories N.V. which is valued at $460,153. Miller Howard Investments Inc Ny added CLB to its portfolio by purchasing 35,315 company shares during the most recent quarter which is valued at $4,192,597. Core Laboratories N.V. makes up approx 0.07% of Miller Howard Investments Inc Ny’s portfolio.

Core Laboratories N.V. closed down -1.63 points or -1.37% at $117.49 with 2,92,219 shares getting traded on Friday. Post opening the session at $117.78, the shares hit an intraday low of $114.35 and an intraday high of $118.47 and the price fluctuated in this range throughout the day.Shares ended Friday 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.. 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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