Ariel Investment, an investment management company, released its “Ariel Fund” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the fund generated a loss of -7.47%, underperforming the Russell 2500 Value Index, which returned a loss of -4.50%, and the Russell 2500 Index, which returned a -2.82% loss. Inflation concerns, Russia-Ukraine tension, energy price, and Federal Reserve’s aggressive actions impacted the investors’ confidence in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Investment highlighted stocks like Core Laboratories N.V. (NYSE:CLB) in the Q3 2022 investor letter. Headquartered in Amstelveen, the Netherlands, Core Laboratories N.V. (NYSE:CLB) provides reservoir description and enhancement services. On December 1, 2022, Core Laboratories N.V. (NYSE:CLB) stock closed at $21.50 per share. One-month return of Core Laboratories N.V. (NYSE:CLB) was 3.81%, and its shares lost 8.47% of their value over the last 52 weeks. Core Laboratories N.V. (NYSE:CLB) has a market capitalization of $996.983 million.
Ariel Investment made the following comment about Core Laboratories N.V. (NYSE:CLB) in its Q3 2022 investor letter:
“Shares of premiere oil services company Core Laboratories N.V. (NYSE:CLB) also underperformed in the quarter. The ongoing geopolitical conflict between Russian and Ukraine as well as associated European and U.S. sanctions continue to disrupt the business and create near-term uncertainty. Although headwinds persist, we believe the industry will realign global supply to meet strong demand for oil and natural gas. In our view, this asset light business will deliver modest growth in reservoir description. We also expect to see greater activity in fracturing rock, which should increase output in well completions and fuel longer term growth of the production enhancement sector. We have conviction in the management team’s long history of delivering strong operating results and robust free cash flow and returning capital to shareholders.”
Core Laboratories N.V. (NYSE:CLB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Core Laboratories N.V. (NYSE:CLB) at the end of the third quarter, which was 11 in the previous quarter.
We discussed Core Laboratories N.V. (NYSE:CLB) in another article and shared the list of growth stocks that are too cheap to ignore. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 Biggest Bitcoin Mining Companies in the World
- 14 Safe Stocks To Buy for Beginners
- Warren Buffett’s Stock Portfolio
Disclosure: None. This article is originally published at Insider Monkey.
