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According to Zacks, “CARBO Ceramics Inc. is an oilfield services technology company that provides industry-leading production enhancement and environmental services solutions. By integrating technologies and intellectual capital to design, build and optimize fractures, CARBO delivers complete production enhancement solutions to help oilfield service companies and E&P clients increase the production of oil and natural gas wells and achieve higher ultimate recovery rates. The Company also provides high-performance spill prevention and containment solutions that are engineered to protect the client’s entire wellsite as well as the environment. “
A number of other research firms also recently issued reports on CRR. ValuEngine upgraded shares of CARBO Ceramics from a sell rating to a hold rating in a research report on Thursday, August 1st. Piper Jaffray Companies set a $1.00 price target on shares of CARBO Ceramics and gave the company a hold rating in a research report on Friday, July 26th.
CRR traded down $0.12 during trading on Wednesday, reaching $1.56. The company’s stock had a trading volume of 156,830 shares, compared to its average volume of 381,028. CARBO Ceramics has a 52-week low of $0.83 and a 52-week high of $5.32. The company’s fifty day moving average price is $2.01 and its 200-day moving average price is $1.74. The company has a market capitalization of $44.36 million, a price-to-earnings ratio of -0.58 and a beta of 1.63. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 3.21.
CARBO Ceramics (NYSE:CRR) last posted its quarterly earnings results on Friday, November 8th. The oil and gas company reported ($1.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.53). CARBO Ceramics had a negative net margin of 37.95% and a negative return on equity of 21.61%. The company had revenue of $43.50 million for the quarter, compared to analyst estimates of $45.88 million. During the same quarter in the previous year, the business posted ($0.62) earnings per share. CARBO Ceramics’s revenue was down 19.1% on a year-over-year basis. Equities analysts predict that CARBO Ceramics will post -2.22 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its position in shares of CARBO Ceramics by 266.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 10,333 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 7,513 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at approximately $37,000. Greatmark Investment Partners Inc. lifted its position in shares of CARBO Ceramics by 109.9% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 30,125 shares of the oil and gas company’s stock valued at $72,000 after acquiring an additional 15,775 shares during the period. SG Americas Securities LLC acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at approximately $66,000. Finally, Paloma Partners Management Co acquired a new stake in shares of CARBO Ceramics during the 2nd quarter valued at approximately $86,000. Institutional investors own 57.20% of the company’s stock.
About CARBO Ceramics
CARBO Ceramics Inc, a technology company, provides products and services to the oil and gas, industrial, and environmental markets worldwide. It operates through two segments, Oilfield and Industrial Technologies and Services, and Environmental Technologies and Services. The Oilfield and Industrial Technologies and Services segment manufactures and sells oilfield ceramic technology products, base ceramic proppants, and frac sand proppants to pressure pumping companies, and oil and gas operators for use in the hydraulic fracturing of natural gas and oil wells.
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