Core Laboratories Inc. (NYSE:CLB) Short Interest Update

Core Laboratories Inc. (NYSE:CLB) saw a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 6,500,000 shares, a drop of 5.1% from the November 15th total of 6,850,000 shares. Based on an average daily trading volume, of 309,300 shares, the days-to-cover ratio is currently 21.0 days. Approximately 14.0% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CLB. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Citigroup lowered their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, Core Laboratories currently has an average rating of “Hold” and a consensus target price of $17.00.

Institutional Trading of Core Laboratories

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC lifted its stake in Core Laboratories by 136.8% in the second quarter. SG Americas Securities LLC now owns 24,508 shares of the oil and gas company’s stock worth $497,000 after acquiring an additional 14,158 shares during the period. Exchange Capital Management Inc. purchased a new stake in Core Laboratories in the second quarter worth about $553,000. Louisiana State Employees Retirement System lifted its stake in Core Laboratories by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the oil and gas company’s stock worth $479,000 after acquiring an additional 500 shares during the period. Bank of New York Mellon Corp lifted its stake in Core Laboratories by 8.1% in the second quarter. Bank of New York Mellon Corp now owns 516,119 shares of the oil and gas company’s stock worth $10,472,000 after acquiring an additional 38,726 shares during the period. Finally, Signaturefd LLC lifted its stake in Core Laboratories by 12.8% in the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 767 shares during the period. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Stock Up 0.9 %

Shares of CLB opened at $19.14 on Wednesday. The firm has a market capitalization of $898.62 million, a P/E ratio of 29.45, a P/E/G ratio of 1.36 and a beta of 2.35. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $25.13. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average price of $19.67 and a 200-day moving average price of $19.70.

Core Laboratories (NYSE:CLB) last issued its 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. The firm had revenue of $134.40 million during the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 earnings per share. Equities research analysts expect that Core Laboratories will post 0.8 earnings per share for the current year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were paid a dividend of $0.01 per share. 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, November 4th. Core Laboratories’s dividend payout ratio is currently 6.15%.

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.