First Mercantile Trust Co Lowers stake in Core Laboratories N.V. (CLB)

Core Laboratories N.V. (CLB) : First Mercantile Trust Co reduced its stake in Core Laboratories N.V. by 15.62% during the most recent quarter end. The investment management company now holds a total of 12,885 shares of Core Laboratories N.V. which is valued at $1,460,386 after selling 2,385 shares in Core Laboratories N.V. , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Core Laboratories N.V. makes up approximately 0.20% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Academy Capital Management Inctx reduced its stake in CLB by selling 109 shares or 0.16% in the most recent quarter. The Hedge Fund company now holds 69,280 shares of CLB which is valued at $7,852,195. Core Laboratories N.V. makes up approx 2.10% of Academy Capital Management Inctx’s portfolio. Chevy Chase Trust Holdings added CLB to its portfolio by purchasing 1,794 company shares during the most recent quarter which is valued at $200,695.Bnp Paribas Arbitrage Sa boosted its stake in CLB in the latest quarter, The investment management firm added 490 additional shares and now holds a total of 5,810 shares of Core Laboratories N.V. which is valued at $649,965.Telemus Capital boosted its stake in CLB in the latest quarter, The investment management firm added 7,538 additional shares and now holds a total of 22,517 shares of Core Laboratories N.V. which is valued at $2,518,977. Core Laboratories N.V. makes up approx 0.28% of Telemus Capital’s portfolio.Washington Trust Bank boosted its stake in CLB in the latest quarter, The investment management firm added 4 additional shares and now holds a total of 25 shares of Core Laboratories N.V. which is valued at $2,797.

Core Laboratories N.V. opened for trading at $113.44 and hit $113.86 on the upside on Friday, eventually ending the session at $113.34, with a gain of 0.34% or 0.38 points. The heightened volatility saw the trading volume jump to 4,04,168 shares. Company has a market cap of $4,999 M.

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.

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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