Ariel Investments, an investment management company, released its “Ariel Small-Cap Value Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Small Cap Value Tax-Exempt Composite gained 13.37% gross of fees compared to an 8.42% return for the Russell 2000 Value Index and a 6.23% gain for the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Ariel Small-Cap Value Strategy highlighted stocks like Core Laboratories N.V. (NYSE:CLB) in the Q4 2022 investor letter. Headquartered in Amstelveen, the Netherlands, Core Laboratories N.V. (NYSE:CLB) provides reservoir description and enhancement services and products to the energy industry. On March 14, 2023, Core Laboratories N.V. (NYSE:CLB) stock closed at $21.50 per share. One-month return of Core Laboratories N.V. (NYSE:CLB) was -14.14%, and its shares lost 29.62% of their value over the last 52 weeks. Core Laboratories N.V. (NYSE:CLB) has a market capitalization of $1.003 billion.
Ariel Small-Cap Value Strategy made the following comment about Core Laboratories N.V. (NYSE:CLB) in its Q4 2022 investor letter:
“Shares of oil services company, Core Laboratories N.V. (NYSE:CLB) also advanced in the period on solid top and bottom-line results and a subsequent increase in full year guidance. These results were driven by steady activity in the U.S. and an uptick in international markets, illustrating the operational leverage within its global, asset-light business model. CLB also continues to pay down debt with free cash flow generation. The ongoing geopolitical conflict between Russia and Ukraine, as well as associated European and U.S. sanctions, continue to disrupt the business and create near-term uncertainty, however CLB is seeing progress in both onshore and offshore activity across its global operations. We have conviction in the management team’s long history of delivering strong operating results, 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, 12 hedge fund portfolios held Core Laboratories N.V. (NYSE:CLB) at the end of the fourth quarter which was 10 in the previous quarter.
We discussed Core Laboratories N.V. (NYSE:CLB) in another article and shared Alger Weatherbie Specialized Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
