Core Laboratories (NYSE:CLB) Downgraded by StockNews.com

StockNews.com lowered shares of Core Laboratories (NYSE:CLB) from a hold rating to a sell rating in a research note published on Tuesday.

Several other research firms also recently weighed in on CLB. Piper Sandler dropped their target price on Core Laboratories from $18.00 to $17.00 and set a neutral rating for the company in a research report on Monday, July 15th. Bank of America dropped their target price on Core Laboratories from $16.00 to $15.00 and set an underperform rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus lifted their target price on Core Laboratories from $18.00 to $22.00 and gave the company a hold rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Core Laboratories has an average rating of Reduce and an average price target of $18.50.

Core Laboratories Trading Up 4.9 %

Shares of CLB stock opened at $18.36 on Tuesday. The stock’s fifty day moving average is $20.36 and its two-hundred day moving average is $18.54. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The firm has a market capitalization of $861.08 million, a P/E ratio of 20.86, a PEG ratio of 0.94 and a beta of 2.37. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.20.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company had revenue of $130.58 million for the quarter, compared to analyst estimates of $132.85 million. During the same quarter last year, the firm posted $0.23 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Research analysts expect that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Monday, August 5th. Core Laboratories’s payout ratio is 4.55%.

Institutional Investors Weigh In On Core Laboratories

Several institutional investors have recently added to or reduced their stakes in CLB. Headlands Technologies LLC purchased a new stake in Core Laboratories in the second quarter valued at approximately $36,000. Quadrant Capital Group LLC grew 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 worth $60,000 after acquiring an additional 1,538 shares during the period. GAMMA Investing LLC grew its holdings in Core Laboratories by 31.6% in the first quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 857 shares during the last quarter. CWM LLC grew its holdings 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 valued at $61,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Lindbrook Capital LLC boosted its stake in shares of Core Laboratories by 19.7% during the first quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

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.