State Street Corp lifted its stake in Carbo Ceramics, Inc. (NYSE:CRR) by 4.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 501,406 shares of the oil and gas company’s stock after buying an additional 20,824 shares during the period. State Street Corp owned approximately 1.85% of Carbo Ceramics worth $3,438,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Carbo Ceramics by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,689,537 shares of the oil and gas company’s stock worth $22,031,000 after buying an additional 24,051 shares during the period. Ameriprise Financial Inc. boosted its holdings in Carbo Ceramics by 34.5% in the second quarter. Ameriprise Financial Inc. now owns 548,679 shares of the oil and gas company’s stock valued at $3,780,000 after purchasing an additional 140,807 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Carbo Ceramics by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 362,236 shares of the oil and gas company’s stock valued at $2,481,000 after purchasing an additional 1,225 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Carbo Ceramics by 17.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 351,880 shares of the oil and gas company’s stock valued at $2,411,000 after purchasing an additional 51,198 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Carbo Ceramics by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 281,913 shares of the oil and gas company’s stock valued at $1,931,000 after purchasing an additional 16,739 shares during the last quarter. 74.36% of the stock is owned by institutional investors.
Carbo Ceramics, Inc. (NYSE:CRR) opened at $9.92 on Friday. The company has a quick ratio of 3.31, a current ratio of 5.74 and a debt-to-equity ratio of 0.20. Carbo Ceramics, Inc. has a 1-year low of $5.83 and a 1-year high of $16.70.
Carbo Ceramics (NYSE:CRR) last released its earnings results on Thursday, October 26th. The oil and gas company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.16). Carbo Ceramics had a negative return on equity of 16.48% and a negative net margin of 79.49%. The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $46.98 million. During the same period in the prior year, the business earned ($0.49) EPS. The company’s quarterly revenue was up 148.5% on a year-over-year basis. research analysts predict that Carbo Ceramics, Inc. will post -3.85 EPS for the current fiscal year.
A number of brokerages recently commented on CRR. Zacks Investment Research raised Carbo Ceramics from a “sell” rating to a “hold” rating in a report on Tuesday, August 22nd. ValuEngine raised Carbo Ceramics from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Cowen set a $11.00 price target on Carbo Ceramics and gave the company a “hold” rating in a report on Friday, October 6th. Finally, Scotiabank set a $12.00 price target on Carbo Ceramics and gave the company a “hold” rating in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $10.75.
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Carbo Ceramics Company Profile
CARBO Ceramics Inc is a technology company that provides products and services to the global oil and gas and industrial markets. The Company operates through two segments: Oilfield Technologies and Services, and Environmental Products and Services. The Company’s oilfield technologies and services segment includes the manufacturing and selling of proppant products for use primarily in the hydraulic fracturing of oil and natural gas wells, Fracpro software for the design of fracture treatments, and StrataGen consulting services for the optimizing of well completions.
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