Core Laboratories (NYSE:CLB) Rating Lowered to Sell at StockNews.com

StockNews.com cut shares of Core Laboratories (NYSE:CLBGet Rating) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

CLB has been the subject of a number of other reports. Piper Sandler cut Core Laboratories from a neutral rating to an underweight rating and boosted their target price for the company from $19.50 to $21.30 in a research note on Monday, April 18th. Morgan Stanley upped their price objective on Core Laboratories from $30.00 to $35.00 and gave the stock an equal weight rating in a research report on Monday, April 11th. Five analysts have rated the stock with a sell rating and one has given a hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Sell and a consensus target price of $32.06.

NYSE:CLB opened at $25.11 on Tuesday. Core Laboratories has a 1 year low of $21.08 and a 1 year high of $49.87. The company has a current ratio of 2.03, a quick ratio of 1.54 and a debt-to-equity ratio of 1.14. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 119.57 and a beta of 2.71. The stock has a 50-day moving average price of $30.25 and a two-hundred day moving average price of $27.34.

Core Laboratories (NYSE:CLBGet Rating) last posted its earnings results on Wednesday, April 27th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Core Laboratories had a return on equity of 18.28% and a net margin of 2.04%. During the same period in the previous year, the business earned $0.15 earnings per share. Sell-side analysts forecast that Core Laboratories will post 0.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 31st. Investors of record on Monday, May 9th will be paid a $0.01 dividend. The ex-dividend date is Friday, May 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.16%. Core Laboratories’s dividend payout ratio is presently 19.05%.

Several large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in shares of Core Laboratories in the first quarter valued at $30,000. First Bank & Trust grew its stake in shares of Core Laboratories by 21.7% in the first quarter. First Bank & Trust now owns 2,561 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 456 shares in the last quarter. Deutsche Bank AG grew its stake in shares of Core Laboratories by 14.3% in the fourth quarter. Deutsche Bank AG now owns 3,679 shares of the oil and gas company’s stock valued at $82,000 after buying an additional 459 shares in the last quarter. Arizona State Retirement System grew its stake in shares of Core Laboratories by 4.1% in the third quarter. Arizona State Retirement System now owns 12,613 shares of the oil and gas company’s stock valued at $350,000 after buying an additional 497 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. boosted its position in Core Laboratories by 0.8% during the first quarter. Mraz Amerine & Associates Inc. now owns 67,185 shares of the oil and gas company’s stock worth $2,125,000 after purchasing an additional 561 shares during the period. 92.56% of the stock is owned by institutional investors and hedge funds.

About Core Laboratories (Get Rating)

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

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