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 4.01% during the most recent quarter end. The investment management company now holds a total of 1,940,975 shares of Core Laboratories N.V. which is valued at $205,607,482 after selling 81,169 shares in Core Laboratories N.V. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Core Laboratories N.V. makes up approximately 2.11% of Earnest Partners’s portfolio.

Other Hedge Funds, Including , Granahan Investment Management Incma boosted its stake in CLB in the latest quarter, The investment management firm added 6,800 additional shares and now holds a total of 122,100 shares of Core Laboratories N.V. which is valued at $12,934,053. Core Laboratories N.V. makes up approx 0.44% of Granahan Investment Management Incma’s portfolio. Checchi Capital Advisers sold out all of its stake in CLB during the most recent quarter. The investment firm sold 89 shares of CLB which is valued $9,353.Schroder Investment Management Group reduced its stake in CLB by selling 103,263 shares or 54.47% in the most recent quarter. The Hedge Fund company now holds 86,320 shares of CLB which is valued at $8,755,438. Core Laboratories N.V. makes up approx 0.02% of Schroder Investment Management Group’s portfolio.

Core Laboratories N.V. opened for trading at $106.53 and hit $107.45 on the upside on Monday, eventually ending the session at $106.05, with a gain of 0.07% or 0.07 points. The heightened volatility saw the trading volume jump to 2,88,871 shares. Company has a market cap of $4,678 M.

On the company’s financial health, Core Laboratories N.V. reported $0.38 EPS for the quarter, based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus estimate of $0.38. The company had revenue of $143.50 million for the quarter, compared to analysts expectations of $145.16 million. The company’s revenue was down -27.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.83 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.

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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