Core Laboratories Inc. (NYSE:CLB) Given Average Recommendation of “Reduce” by Analysts

Shares of Core Laboratories Inc. (NYSE:CLB) have been assigned an average rating of “Reduce” from the three analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $18.00.

CLB has been the subject of a number of research reports. Citigroup reduced their target price on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report on Thursday. Bank of America lowered their price target 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. Stifel Nicolaus increased their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler cut their price target 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.

Institutional Investors Weigh In On Core Laboratories

Several large investors have recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Core Laboratories by 9.0% during the first quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company’s stock valued at $10,915,000 after purchasing an additional 52,639 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Core Laboratories by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock worth $92,096,000 after buying an additional 27,701 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in shares of Core Laboratories by 446.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after buying an additional 3,644,963 shares in the last quarter. PEAK6 Investments LLC lifted its holdings in shares of Core Laboratories by 106.5% in the 1st quarter. PEAK6 Investments LLC now owns 61,005 shares of the oil and gas company’s stock valued at $1,042,000 after acquiring an additional 31,459 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Core Laboratories by 12.5% in the second quarter. Envestnet Asset Management Inc. now owns 306,287 shares of the oil and gas company’s stock worth $6,215,000 after acquiring an additional 34,149 shares in the last quarter. 97.81% of the stock is owned by institutional investors.

Core Laboratories Stock Performance

Shares of CLB stock traded down $0.36 on Thursday, reaching $18.92. The stock had a trading volume of 216,225 shares, compared to its average volume of 430,907. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $25.13. The stock has a market cap of $887.35 million, a P/E ratio of 21.50, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36. The company has a 50 day simple moving average of $18.57 and a 200 day simple moving average of $19.01.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period in the previous year, the company posted $0.22 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities research analysts expect that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $0.04 annualized dividend and a yield of 0.21%. Core Laboratories’s payout ratio is 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.