The stock of CARBO Ceramics Inc. (NYSE:CRR) is a huge mover today! The stock increased 8.50% or $0.93 during the last trading session, hitting $11.87. About 1.66M shares traded hands or 167.46% up from the average. CARBO Ceramics Inc. (NYSE:CRR) has declined 45.27% since February 29, 2016 and is downtrending. It has underperformed by 57.49% the S&P500.
The move comes after 7 months positive chart setup for the $280.72 million company. It was reported on Oct, 3 by Barchart.com. We have $23.15 PT which if reached, will make NYSE:CRR worth $266.68M more.
Analysts await CARBO Ceramics Inc. (NYSE:CRR) to report earnings on November, 3. They expect $-0.67 earnings per share, down 91.43% or $0.32 from last year’s $-0.35 per share. After $-0.50 actual earnings per share reported by CARBO Ceramics Inc. for the previous quarter, Wall Street now forecasts 34.00% negative EPS growth.
CARBO Ceramics Inc. (NYSE:CRR) Ratings Coverage
Out of 6 analysts covering Carbo Ceramics Inc. (NYSE:CRR), 2 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 33% are positive. Carbo Ceramics Inc. has been the topic of 12 analyst reports since August 24, 2015 according to StockzIntelligence Inc. As per Monday, November 30, the company rating was upgraded by Guggenheim. The rating was initiated by KLR Group with “Hold” on Monday, December 14. Howard Weil maintained it with “Sector Perform” rating and $28 target price in Thursday, September 10 report. Cowen & Co maintained the stock with “Market Perform” rating in Friday, October 30 report. Howard Weil maintained the stock with “Sector Perform” rating in Friday, January 29 report. The firm earned “Underperform” rating on Monday, September 21 by Iberia Capital Partners. Howard Weil maintained the shares of CRR in a report on Tuesday, June 7 with “Sector Perform” rating.
According to Zacks Investment Research, “CARBO Ceramics Inc. is the world’s largest producer and supplier of ceramic proppants for use in the hydraulic fracturing of natural gas and oil wells. Demand for ceramic proppants depends primarily upon the demand for natural gas and oil and on the number of natural gas and oil wells drilled, completed or recompleted worldwide. More specifically, the demand for ceramic proppants is dependent on the number of oil and gas wells that are hydraulically fractured to stimulate production.”
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.63, from 1.54 in 2016Q1. The ratio worsened, as 14 funds sold all CARBO Ceramics Inc. shares owned while 42 reduced positions. 14 funds bought stakes while 37 increased positions. They now own 20.99 million shares or 6.41% less from 22.43 million shares in 2016Q1.
Moreover, Diversified Inv Strategies Llc has 1.11% invested in CARBO Ceramics Inc. (NYSE:CRR) for 84,072 shares. Invesco Ltd holds 144,341 shares or 0% of its portfolio. Oslo Asset Management Asa holds 11.87% or 1.12M shares in its portfolio. Arizona State Retirement Sys accumulated 0% or 10,214 shares. Moors And Cabot holds 49,725 shares or 0.12% of its portfolio. Engy Opportunities Capital Mngmt Ltd owns 102,804 shares or 0.41% of their US portfolio. Susquehanna Intll Gru Llp has 0% invested in the company for 93,817 shares. Commercial Bank Of America De holds 0% or 118,300 shares in its portfolio. Jpmorgan Chase And Communications has 0% invested in the company for 7,848 shares. Arosa L P has 200,000 shares for 0.32% of their US portfolio. Moreover, Price T Rowe Assoc Md has 0% invested in CARBO Ceramics Inc. (NYSE:CRR) for 28,636 shares. Tctc Lc holds 0.04% of its portfolio in CARBO Ceramics Inc. (NYSE:CRR) for 41,880 shares. The Texas-based Texas Permanent School Fund has invested 0% in CARBO Ceramics Inc. (NYSE:CRR). D E Shaw & has invested 0% of its portfolio in CARBO Ceramics Inc. (NYSE:CRR). Morgan Dempsey Mgmt Ltd Liability Co holds 21,515 shares or 0.1% of its portfolio.
More important recent CARBO Ceramics Inc. (NYSE:CRR) news were published by: Reuters.com which released: “BRIEF-Wilks Brothers LLC reports stake of 5.6 pct in Carbo Ceramics Inc as…” on October 03, 2016, also Fool.com published article titled: “Cratering Earnings Cause CARBO Ceramics Inc.’s Stock to Slip”, Seekingalpha.com published: “CARBO Ceramics: A Race Against Time” on May 05, 2016. More interesting news about CARBO Ceramics Inc. (NYSE:CRR) was released by: Investorplace.com and their article: “Why Carbo Ceramics Inc. (CRR), Hewlett Packard Enterprise Co (HPE) and Qiagen …” with publication date: July 29, 2016.
CRR Company Profile
Carbo Ceramics Inc., incorporated on June 23, 1987, is an oilfield services technology company. The Firm supplies ceramic proppant. The Firm also sells sand and resin-coated proppants. Additionally, the Company provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures.
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