Core Laboratories (NYSE:CLB) Shares Gap Up to $17.00

Core Laboratories Inc. (NYSE:CLB) shares gapped up before the market opened on Monday . The stock had previously closed at $17.00, but opened at $17.39. Core Laboratories shares last traded at $17.27, with a volume of 9,799 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus boosted their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Piper Sandler lowered their price objective on 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 downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Bank of America reduced their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Three investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $18.50.

Core Laboratories Stock Up 1.7 %

The firm has a market cap of $875.62 million, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 0.94 and a beta of 2.37. The firm’s 50-day moving average price is $20.36 and its 200 day moving average price is $18.54. 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 (NYSE:CLB) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm had revenue of $130.58 million during the quarter, compared to analyst estimates of $132.85 million. During the same quarter in the prior year, the firm posted $0.23 EPS. Core Laboratories’s revenue was up 2.1% compared to the same quarter last year. As a group, research analysts expect that Core Laboratories Inc. will post 0.8 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend was Monday, August 5th. Core Laboratories’s dividend payout ratio is presently 4.55%.

Institutional Investors Weigh In On Core Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Headlands Technologies LLC bought a new stake in shares of Core Laboratories in the 2nd quarter worth approximately $36,000. Quadrant Capital Group LLC lifted its position in shares of Core Laboratories by 84.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,538 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Core Laboratories by 31.6% during the 1st quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 857 shares in the last quarter. CWM LLC boosted its stake in shares of Core Laboratories by 1,178.6% during the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Lindbrook Capital LLC grew its holdings in shares of Core Laboratories by 19.7% in the 1st quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock worth $63,000 after acquiring an additional 612 shares during the last quarter. 97.81% of the stock is owned by institutional investors and hedge funds.

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.