Core Laboratories (NYSE:CLB) posted its earnings results on Wednesday, April 24th. The oil and gas company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01, Briefing.com reports. Core Laboratories had a return on equity of 57.13% and a net margin of 13.79%. The business had revenue of $169.19 million during the quarter, compared to the consensus estimate of $166.79 million. During the same period in the previous year, the business earned $0.57 EPS. The business’s quarterly revenue was down .5% on a year-over-year basis. Core Laboratories updated its Q2 2019 guidance to $0.47-0.50 EPS and its Q2 guidance to $0.47-0.50 EPS.
Shares of Core Laboratories stock opened at $54.14 on Friday. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.84 and a quick ratio of 1.45. The stock has a market cap of $2.47 billion, a PE ratio of 25.95, a price-to-earnings-growth ratio of 2.02 and a beta of 1.80. Core Laboratories has a 1-year low of $54.07 and a 1-year high of $130.25.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th will be paid a dividend of $0.55 per share. The ex-dividend date is Thursday, April 25th. This represents a $2.20 annualized dividend and a dividend yield of 4.06%.
Hedge funds have recently modified their holdings of the company. Marshall Wace LLP bought a new position in shares of Core Laboratories during the first quarter worth about $30,000. Eukles Asset Management bought a new position in shares of Core Laboratories during the fourth quarter worth about $27,000. Bremer Bank National Association bought a new position in shares of Core Laboratories during the first quarter worth about $30,000. Rockefeller Capital Management L.P. bought a new position in shares of Core Laboratories during the first quarter worth about $43,000. Finally, Cresset Asset Management LLC bought a new position in shares of Core Laboratories during the first quarter worth about $49,000.
A number of research firms have recently commented on CLB. Tudor Pickering upgraded Core Laboratories from a “hold” rating to a “buy” rating in a report on Monday, February 25th. Stifel Nicolaus set a $75.00 price objective on Core Laboratories and gave the stock a “buy” rating in a report on Friday, April 26th. Zacks Investment Research upgraded Core Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a report on Wednesday, April 3rd. Finally, UBS Group set a $72.00 price target on Core Laboratories and gave the company a “hold” rating in a report on Saturday, February 2nd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $86.45.
About Core Laboratories
Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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