Ameriprise Financial Inc. lessened its holdings in shares of CARBO Ceramics Inc. (NYSE:CRR) by 76.2% in the 3rd quarter, Holdings Channel reports. The firm owned 130,775 shares of the oil and gas company’s stock after selling 417,904 shares during the quarter. Ameriprise Financial Inc.’s holdings in CARBO Ceramics were worth $1,103,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of CRR. Dimensional Fund Advisors LP raised its holdings in CARBO Ceramics by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 362,236 shares of the oil and gas company’s stock valued at $2,481,000 after acquiring an additional 1,225 shares in the last quarter. Rhumbline Advisers raised its holdings in CARBO Ceramics by 4.0% in the 2nd quarter. Rhumbline Advisers now owns 45,564 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 1,755 shares in the last quarter. Royal Bank of Canada raised its holdings in CARBO Ceramics by 12.4% in the 2nd quarter. Royal Bank of Canada now owns 28,063 shares of the oil and gas company’s stock valued at $192,000 after acquiring an additional 3,092 shares in the last quarter. Legal & General Group Plc raised its holdings in CARBO Ceramics by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 39,529 shares of the oil and gas company’s stock valued at $271,000 after acquiring an additional 3,166 shares in the last quarter. Finally, Ahrens Investment Partners LLC raised its holdings in CARBO Ceramics by 67.8% in the 3rd quarter. Ahrens Investment Partners LLC now owns 19,300 shares of the oil and gas company’s stock valued at $167,000 after acquiring an additional 7,800 shares in the last quarter. 74.36% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Wilks Brothers, Llc bought 134,356 shares of the company’s stock in a transaction dated Wednesday, November 14th. The stock was acquired at an average cost of $8.57 per share, with a total value of $1,151,430.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 16.20% of the company’s stock.
CARBO Ceramics (NYSE:CRR) last issued its earnings results on Thursday, October 26th. The oil and gas company reported ($0.97) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate 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 company had revenue of $50.20 million during the quarter, compared to analyst estimates of $46.98 million. During the same period in the previous year, the company posted ($0.49) earnings per share. 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 earnings per share for the current year.
CRR has been the subject of several recent research reports. Zacks Investment Research raised CARBO Ceramics from a “hold” rating to a “buy” rating and set a $9.25 price target for the company in a report on Wednesday, September 27th. Cowen set a $11.00 price target on CARBO Ceramics and gave the company a “hold” rating in a report on Friday, October 6th. Scotiabank set a $12.00 price target on CARBO Ceramics and gave the company a “hold” rating in a report on Friday, October 27th. Finally, ValuEngine raised CARBO Ceramics from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $10.88.
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CARBO Ceramics 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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