Core Laboratories Inc. (NYSE:CLB) Receives $18.75 Consensus Target Price from Brokerages

Shares of Core Laboratories Inc. (NYSE:CLB) have been assigned a consensus rating of “Reduce” from 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 assigned a hold rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $18.75.

A number of equities analysts have recently weighed in on the stock. Bank of America cut 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 report on Monday, April 15th. Stifel Nicolaus boosted 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.

Core Laboratories Trading Up 2.6 %

Shares of Core Laboratories stock opened at $20.29 on Thursday. The stock has a market cap of $951.60 million, a price-to-earnings ratio of 23.06, a PEG ratio of 1.25 and a beta of 2.39. The company has a fifty day simple moving average of $17.83 and a 200-day simple moving average of $16.87. 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 12-month low of $13.82 and a 12-month high of $27.94.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $124.47 million. On average, equities analysts forecast that Core Laboratories will post 0.73 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders 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 dividend yield of 0.20%. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Institutional Trading of Core Laboratories

A number of hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new stake in shares of Core Laboratories in the fourth quarter worth $48,000. Quadrant Capital Group LLC raised its holdings in shares of Core Laboratories by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 1,538 shares during the last quarter. CWM LLC increased its position in Core Laboratories by 1,178.6% in the first quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 3,300 shares during the period. Lindbrook Capital LLC increased its position in Core Laboratories by 19.7% in the first quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock worth $63,000 after purchasing an additional 612 shares during the period. Finally, Platinum Investment Management Ltd. increased its position in Core Laboratories by 43.8% in the fourth quarter. Platinum Investment Management Ltd. now owns 5,577 shares of the oil and gas company’s stock worth $98,000 after purchasing an additional 1,698 shares during the period. 97.81% of the stock is owned by hedge funds and other institutional investors.

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.