Core Laboratories (NYSE:CLB) Shares Gap Down to $17.66

Core Laboratories (NYSE:CLBGet Rating) shares gapped down before the market opened on Thursday . The stock had previously closed at $17.66, but opened at $16.95. Core Laboratories shares last traded at $16.71, with a volume of 5,340 shares.

Analysts Set New Price Targets

CLB has been the topic of a number of analyst reports. Piper Sandler downgraded shares of Core Laboratories from a “neutral” rating to an “underweight” rating and lifted their price objective for the stock from $19.50 to $21.30 in a report on Monday, April 18th. Morgan Stanley cut their price objective on shares of Core Laboratories from $32.00 to $22.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 13th. Finally, StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th.

Core Laboratories Stock Up 2.2 %

The company has a market capitalization of $801.63 million, a P/E ratio of 82.43 and a beta of 2.74. 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 stock has a 50 day moving average price of $22.30 and a 200 day moving average price of $26.26.

Core Laboratories (NYSE:CLBGet Rating) last released its earnings results on Wednesday, April 27th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $115.30 million for the quarter, compared to analysts’ expectations of $111.63 million. 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 posted $0.15 EPS. Equities research analysts forecast that Core Laboratories will post 0.68 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Stockholders of record on Monday, May 9th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, May 6th. Core Laboratories’s payout ratio is 19.05%.

Institutional Investors Weigh In On Core Laboratories

A number of hedge funds have recently made changes to their positions in the business. Captrust Financial Advisors raised its stake in Core Laboratories by 185.7% in the 1st quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,237 shares during the period. First Bank & Trust raised its stake in Core Laboratories by 21.7% in the 1st quarter. First Bank & Trust now owns 2,561 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 456 shares during the period. Whittier Trust Co. bought a new stake in Core Laboratories in the 1st quarter valued at about $95,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Core Laboratories by 47.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,512 shares of the oil and gas company’s stock valued at $145,000 after acquiring an additional 2,105 shares during the period. Finally, US Bancorp DE raised its stake in Core Laboratories by 15.3% in the 1st quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock valued at $188,000 after acquiring an additional 790 shares during the period. 92.56% of the stock is currently owned by 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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