Investors Purchase High Volume of Core Laboratories Put Options (NYSE:CLB)

Core Laboratories (NYSE:CLB) was the recipient of some unusual options trading on Monday. Stock traders bought 1,518 put options on the stock. This represents an increase of approximately 1,346% compared to the average volume of 105 put options.

In other news, Director Gregory Barry Barnett bought 1,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the purchase, the director now owns 11,000 shares of the company’s stock, valued at approximately $440,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in CLB. Hsbc Holdings PLC bought a new position in Core Laboratories in the 4th quarter valued at about $263,000. Dimensional Fund Advisors LP grew its position in Core Laboratories by 32.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 397,850 shares of the oil and gas company’s stock valued at $23,736,000 after buying an additional 98,124 shares in the last quarter. Principal Financial Group Inc. grew its position in Core Laboratories by 13.1% in the 4th quarter. Principal Financial Group Inc. now owns 296,346 shares of the oil and gas company’s stock valued at $17,680,000 after buying an additional 34,282 shares in the last quarter. Gotham Asset Management LLC bought a new position in Core Laboratories in the 4th quarter valued at about $909,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in Core Laboratories in the 4th quarter valued at about $634,000.

Shares of CLB traded up $0.06 during trading hours on Wednesday, hitting $39.15. 432,800 shares of the company were exchanged, compared to its average volume of 631,086. The firm’s fifty day moving average is $48.04 and its 200 day moving average is $58.34. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 17.17, a P/E/G ratio of 3.38 and a beta of 1.91. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 1.83. Core Laboratories has a fifty-two week low of $36.61 and a fifty-two week high of $122.11.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The business had revenue of $169.04 million for the quarter, compared to analyst estimates of $173.46 million. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. Core Laboratories’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. Analysts anticipate that Core Laboratories will post 1.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 22nd were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Friday, July 19th. Core Laboratories’s dividend payout ratio (DPR) is presently 96.49%.

CLB has been the topic of a number of analyst reports. Morgan Stanley dropped their price objective on Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Bank of America upgraded Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada set a $77.00 price objective on Core Laboratories and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Stifel Nicolaus set a $75.00 price target on Core Laboratories and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Piper Jaffray Companies set a $52.00 price target on Core Laboratories and gave the company a “hold” rating in a research note on Wednesday, June 26th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Core Laboratories presently has a consensus rating of “Hold” and an average price target of $75.67.

Core Laboratories Company Profile

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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