Analysts Set Core Laboratories Inc. (NYSE:CLB) PT at $18.50

Core Laboratories Inc. (NYSE:CLB) has been assigned a consensus rating of “Reduce” from the four brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $18.50.

CLB has been the subject of a number of recent research reports. Piper Sandler decreased their price target on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Stifel Nicolaus lifted their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Bank of America cut their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a report on Monday, July 15th.

Institutional Trading of Core Laboratories

Hedge funds have recently added to or reduced their stakes in the stock. Headlands Technologies LLC bought a new stake in shares of Core Laboratories in the second quarter valued at $36,000. Quadrant Capital Group LLC lifted its holdings in Core Laboratories by 84.0% during 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 purchasing an additional 1,538 shares during the last quarter. GAMMA Investing LLC boosted its position in Core Laboratories by 31.6% during the first quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 857 shares during the period. CWM LLC boosted its position in Core Laboratories by 1,178.6% during 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. Finally, Lindbrook Capital LLC increased its stake in shares of 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 in the last quarter. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Stock Performance

NYSE:CLB opened at $16.65 on Tuesday. The company has a fifty day moving average of $20.49 and a 200-day moving average of $18.45. The firm has a market capitalization of $780.89 million, a P/E ratio of 18.92, a P/E/G ratio of 1.01 and a beta of 2.37. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.74.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $130.58 million during the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. Core Laboratories’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. As a group, sell-side analysts anticipate that Core Laboratories will post 0.79 EPS for the current year.

Core Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend was Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is currently 4.55%.

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.