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

Shares of Core Laboratories Inc. (NYSE:CLBGet Free Report) have been given a consensus recommendation of “Reduce” by the four analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $18.75.

A number of equities analysts have recently commented on the stock. Bank of America reduced their price objective on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a research note on Monday, April 15th. Stifel Nicolaus increased their price objective on shares of Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 26th.

View Our Latest Stock Analysis on Core Laboratories

Core Laboratories Price Performance

CLB stock opened at $18.74 on Friday. The stock has a 50-day moving average price of $17.29 and a two-hundred day moving average price of $16.80. The stock has a market cap of $878.91 million, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.14 and a beta of 2.40. The company has a current ratio of 2.68, a quick ratio of 1.85 and a debt-to-equity ratio of 0.68. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94.

Core Laboratories (NYSE:CLBGet Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a net margin of 8.18% and a return on equity of 15.71%. The company had revenue of $129.64 million during the quarter, compared to the consensus estimate of $124.47 million. Equities analysts forecast that Core Laboratories will post 0.74 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th were given a dividend of $0.01 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.04 annualized dividend and a yield of 0.21%. Core Laboratories’s dividend payout ratio (DPR) is presently 4.55%.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds have recently bought and sold shares of CLB. Ariel Investments LLC lifted its position in Core Laboratories by 20.4% during 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. Congress Asset Management Co. MA lifted its position in Core Laboratories by 17.6% during the first quarter. Congress Asset Management Co. MA now owns 1,606,745 shares of the oil and gas company’s stock worth $27,443,000 after acquiring an additional 240,989 shares during the last quarter. Gendell Jeffrey L lifted its position in Core Laboratories by 101.7% during the first quarter. Gendell Jeffrey L now owns 326,890 shares of the oil and gas company’s stock worth $5,583,000 after acquiring an additional 164,797 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Core Laboratories during the first quarter worth approximately $2,495,000. Finally, Wintrust Investments LLC lifted its position in Core Laboratories by 52.7% during the first quarter. Wintrust Investments LLC now owns 420,411 shares of the oil and gas company’s stock worth $7,181,000 after acquiring an additional 145,161 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

About Core Laboratories

(Get Free Report

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.

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