Core Laboratories (NYSE:CLB) Receives Average Rating of “Sell” from Brokerages

Core Laboratories (NYSE:CLBGet Rating) has been given a consensus rating of “Sell” by the six research firms that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a sell recommendation and one has assigned a hold recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $32.06.

A number of equities analysts recently commented on the stock. Morgan Stanley boosted their target price on shares of Core Laboratories from $30.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Monday, April 11th. Piper Sandler cut Core Laboratories from a “neutral” rating to an “underweight” rating and boosted their target price for the stock from $19.50 to $21.30 in a research note on Monday, April 18th. Finally, downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday.

Shares of CLB stock opened at $27.47 on Friday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 130.81 and a beta of 2.71. Core Laboratories has a fifty-two week low of $21.08 and a fifty-two week high of $49.87. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.54 and a current ratio of 2.03. The company has a 50 day moving average price of $30.24 and a 200 day moving average price of $27.28.

Core Laboratories (NYSE:CLBGet Rating) last issued its quarterly earnings results on Wednesday, April 27th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.15 EPS. On average, research analysts forecast that Core Laboratories will post 0.71 EPS for the current fiscal year.

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.15%. Core Laboratories’s dividend payout ratio (DPR) is presently 19.05%.

Hedge funds have recently added to or reduced their stakes in the stock. Ariel Investments LLC increased its stake in Core Laboratories by 83.2% in the 4th quarter. Ariel Investments LLC now owns 7,804,307 shares of the oil and gas company’s stock valued at $174,114,000 after purchasing an additional 3,544,659 shares in the last quarter. Marshall Wace LLP raised its position in shares of Core Laboratories by 382.2% during the 4th quarter. Marshall Wace LLP now owns 835,491 shares of the oil and gas company’s stock worth $18,638,000 after purchasing an additional 662,216 shares during the last quarter. Morgan Stanley lifted its stake in Core Laboratories by 318.5% in the 2nd quarter. Morgan Stanley now owns 620,718 shares of the oil and gas company’s stock valued at $24,177,000 after buying an additional 472,415 shares in the last quarter. Congress Asset Management Co. MA acquired a new stake in Core Laboratories during the 1st quarter valued at $13,499,000. Finally, Norges Bank purchased a new position in Core Laboratories during the fourth quarter worth $8,194,000. 92.56% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Company Profile (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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