The New Wilks Brothers Holding in Carbo Ceramics Inc
Wilks Brothers filed with the SEC SC 13D form for Carbo Ceramics Inc. The form can be accessed here: 000119312516728865. As reported in Wilks Brothers’s form, the filler as of late owns 5.6% or 1,305,676 shares of the Energy–company.
Carbo Ceramics Inc stake is a new one for the and it was filed because of activity on September 30, 2016. We feel this shows Wilks Brothers’s positive view for the stock.
Reasons Why Wilks Brothers Bought – Carbo Ceramics Inc Stock
The Reporting Person originally acquired the shares of Common Stock in theordinary course of business for investment purposes because it believed that the shares, when purchased, were undervalued and represented an attractive investment opportunity.
The Reporting Person typically does not file Schedule 13D reports because, even when it acquires a significant stake in companies, it typically does not seekto change or influence the control of the companies in which it invests. In the case of the Company, however, the Reporting Person believes that due to ongoing relative and absolute underperformance of the Company’s stock price, the ReportingPerson may need to take a more active role in order to preserve and maximize the value of its investment and, in turn, maintain and increase value for the benefit of all shareholders. As a result, the Reporting Person has engaged, and expects tocontinue to engage, in discussions with management, the board of directors, other stakeholders of the Company and other relevant parties concerning the business, operations, management, strategy and future plans of the Company.
Except as described herein, the Reporting Person has no present plan or proposal that would relate to or result in any of the matters set forth insubparagraphs (a)-(j)of Item4 of Schedule 13D. The Reporting Person intends to review its investment in the Company on a continuing basis. Depending on various factors including, without limitation, the Company’s financial positionand strategic direction, the outcome of the discussions referenced above, actions taken by the Company’s board of directors, price levels and trading activity of the Common Stock, other investment opportunities available to the ReportingPerson, conditions in the securities market and general economic and industry conditions, the Reporting Person may in the future take such actions with respect to its investment in the Company as it deems appropriate for investment purposes and/orto change or influence the control of the Company, including, without limitation, (i)acquiring additional Common Stock and/or other equity, debt, notes, instruments or other securities (collectively, “Securities”) of the Company inthe open market or otherwise; (ii)disposing of any or all of its Securities in the open market or otherwise; (iii)engaging in short selling of or any hedging or similar transactions with respect to the Securities; and/or(iv)otherwise changing its intention with respect to any and all matters referred to in Item4 of Schedule 13D.
Carbo Ceramics Inc Institutional Sentiment
Latest Security and Exchange filings show 135 investors own Carbo Ceramics Inc. The institutional ownership in Q3 2015 is high, at 152.28% of the outstanding shares. This is increased by 10874774 the total institutional shares. 35786671 were the shares owned by these institutional investors. In total 12 funds opened new Carbo Ceramics Inc stakes, 66 increased stakes. There were 43 that closed positions and 41 reduced them.
Snow Capital Management Lp is an institutional investor bullish on Carbo Ceramics Inc, owning 1246353 shares as of Q3 2015 for 0.85% of its portfolio. Deprince Race & Zollo Inc owns 2460348 shares or 0.84% of its portfolio. LA Diversified Investment Strategies Llc have 1.84% of their stock portfolio for 81070 shares. Further, Southernsun Asset Management Llc reported stake worth 0.81% of its US stock portfolio. The Q8 Oslo Asset Management Asa owns 666500 shares. Carbo Ceramics Inc is 13.72% of the manager’s US portfolio.
Carbo Ceramics Inc. is an oilfield services technology company. The Company supplies ceramic proppant. The Company also sells sand and resin-coated proppants. Additionally, it provides fracture simulation software, fracture design and consulting services, and a range of technologies for spill prevention, containment and related countermeasures. Its products and services are used in the hydraulic fracturing of natural gas and oil wells. It manufactures various ceramic proppants, including KRYPTOSPHERETM HD, which is a ceramic proppant engineered to deliver conductivity and durability in closure stress wells; KRYPTOSPHERE LD, which is a lower density proppant compared to KRYPTOSPHERE HD; CARBOHSP and CARBOPROP, which are high and intermediate density ceramic proppants, and CARBOLITE, CARBOECONOPROP and CARBOHYDROPROP, which are low-density ceramic proppants. It offers CARBO NORTHERN WHITE, which is a frac sand; CARBONRT, a detectable proppant, and SCALEGUARD, a porous ceramic proppant.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.63, from 1.54 in 2016Q1. The ratio dived, 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.
Teacher Retirement Of Texas has 2,916 shares for 0% of their US portfolio. Schwab Charles Mngmt, a California-based fund reported 148,242 shares. Ubs Asset Management Americas Inc, a Illinois-based fund reported 13,799 shares. State Bank Of New York Mellon Corp has 231,449 shares for 0% of their US portfolio. Blackrock has 57,831 shares for 0% of their US portfolio. Tower Rech Ltd Liability Com (Trc) reported 1,097 shares or 0% of all its holdings. Invesco holds 0% of its portfolio in CARBO Ceramics Inc. (NYSE:CRR) for 144,341 shares. The Massachusetts-based Fmr Ltd Llc has invested 0.01% in CARBO Ceramics Inc. (NYSE:CRR). Manufacturers Life Company The reported 13,836 shares or 0% of all its holdings. State Street Corp has invested 0% of its portfolio in CARBO Ceramics Inc. (NYSE:CRR). Nationwide Fund Advsrs accumulated 12,344 shares or 0% of the stock. Pnc Fincl Serv Grp Inc last reported 115 shares in the company. Creative Planning holds 0% or 4,750 shares in its portfolio. Swiss Bank & Trust accumulated 0% or 39,650 shares. Whittier Trust accumulated 300 shares or 0% of the stock.
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.
About 568,697 shares traded hands. 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.
Carbo Ceramics Inc. is an oilfield services technology company. The company has a market cap of $274.57 million. The Firm supplies ceramic proppant. It currently has negative earnings. The Firm also sells sand and resin-coated proppants.
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. $32 is the highest target while $15 is the lowest. The $20.38 average target is 75.54% above today’s ($11.61) stock price. Carbo Ceramics Inc. has been the topic of 12 analyst reports since August 24, 2015 according to StockzIntelligence Inc. On Friday, January 29 the stock rating was maintained by Howard Weil with “Sector Perform”. The stock of CARBO Ceramics Inc. (NYSE:CRR) has “Buy” rating given on Monday, November 30 by Guggenheim. The rating was initiated by KLR Group on Monday, December 14 with “Hold”. Cowen & Co maintained CARBO Ceramics Inc. (NYSE:CRR) rating on Friday, October 30. Cowen & Co has “Market Perform” rating and $20 price target. As per Monday, September 21, the company rating was downgraded by Iberia Capital Partners. The firm earned “Sector Perform” rating on Tuesday, June 7 by Howard Weil. The firm has “Sector Perform” rating given on Thursday, September 10 by Howard Weil.
More important recent CARBO Ceramics Inc. (NYSE:CRR) news were published by: Fool.com which released: “Cratering Earnings Cause CARBO Ceramics Inc.’s Stock to Slip” on April 28, 2016, also Seekingalpha.com published article titled: “CARBO Ceramics: A Race Against Time”, Investorplace.com published: “Why Carbo Ceramics Inc. (CRR), Hewlett Packard Enterprise Co (HPE) and Qiagen …” on July 29, 2016. More interesting news about CARBO Ceramics Inc. (NYSE:CRR) was released by: Seekingalpha.com and their article: “CARBO Ceramics: Will You Take The Bait?” with publication date: March 18, 2016.
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.”
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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