Core Laboratories Inc. (NYSE:CLB) Given Consensus Rating of “Reduce” by Analysts

Core Laboratories Inc. (NYSE:CLB) has been given an average rating of “Reduce” by the three analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and two have given a hold rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $18.00.

A number of analysts recently commented on the company. Bank of America dropped their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus increased their price objective on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Citigroup lowered their target price on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research note on Thursday. Piper Sandler cut their price target on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Monday.

Core Laboratories Trading Down 1.9 %

Shares of CLB stock traded down $0.36 during trading hours on Thursday, hitting $18.92. 216,225 shares of the company were exchanged, compared to its average volume of 430,907. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The firm has a market cap of $887.35 million, a P/E ratio of 21.50, a P/E/G ratio of 1.08 and a beta of 2.36. The company has a 50 day simple moving average of $18.57 and a two-hundred day simple moving average of $19.01. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $134.40 million for the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the firm earned $0.22 earnings per share. Equities analysts anticipate that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Core Laboratories’s dividend payout ratio is presently 4.55%.

Hedge Funds Weigh In On Core Laboratories

Institutional investors have recently added to or reduced their stakes in the company. Ariel Investments LLC grew its stake in shares of Core Laboratories by 20.4% in the first quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after acquiring an additional 1,837,258 shares during the last quarter. Vanguard Group Inc. grew its position in Core Laboratories by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock valued at $92,096,000 after purchasing an additional 27,701 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in Core Laboratories by 446.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after purchasing an additional 3,644,963 shares in the last quarter. Earnest Partners LLC raised its holdings in Core Laboratories by 6.3% in the second quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after buying an additional 195,756 shares during the last quarter. Finally, Boston Trust Walden Corp lifted its stake in shares of Core Laboratories by 1.3% in the second quarter. Boston Trust Walden Corp now owns 729,760 shares of the oil and gas company’s stock worth $14,807,000 after buying an additional 9,468 shares in the last quarter. Institutional investors own 97.81% of the company’s stock.

About Core Laboratories

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.