Core Laboratories (NYSE:CLB) Stock Price Passes Above 200 Day Moving Average of $18.21

Core Laboratories Inc. (NYSE:CLB)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $18.21 and traded as high as $19.91. Core Laboratories shares last traded at $19.67, with a volume of 358,105 shares traded.

Analyst Upgrades and Downgrades

CLB has been the subject of several recent research reports. Bank of America reduced their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research note on Monday, July 15th. Piper Sandler lowered their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, Stifel Nicolaus lifted their price target on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.50.

Core Laboratories Stock Up 3.7 %

The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60. The firm has a market cap of $922.52 million, a P/E ratio of 22.35, a price-to-earnings-growth ratio of 1.47 and a beta of 2.41. The stock’s fifty day moving average is $20.85 and its two-hundred day moving average is $18.21.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $130.58 million for the quarter, compared to analysts’ expectations of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts anticipate that Core Laboratories Inc. will post 0.71 earnings per share for the current year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Institutional Investors Weigh In On Core Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of CLB. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Core Laboratories by 11.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 600 shares in the last quarter. Creative Planning grew its position in Core Laboratories by 38.3% during the second quarter. Creative Planning now owns 54,891 shares of the oil and gas company’s stock valued at $1,114,000 after acquiring an additional 15,196 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its stake in shares of Core Laboratories by 446.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock worth $90,508,000 after acquiring an additional 3,644,963 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Core Laboratories by 3.3% during the second quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 579 shares in the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Core Laboratories by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after acquiring an additional 195,756 shares during the last quarter. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Company Profile

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.