Core Laboratories Inc. (NYSE:CLB) Receives Consensus Rating of “Reduce” from Analysts

Shares of Core Laboratories Inc. (NYSE:CLB) have been given a consensus recommendation of “Reduce” by the four research firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $18.75.

Several research analysts have recently issued reports on CLB shares. Bank of America decreased their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a research note on Monday, April 15th. Stifel Nicolaus raised their target price on shares of Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 26th.

Core Laboratories Stock Down 1.5 %

Core Laboratories stock opened at $19.99 on Thursday. The firm has a market capitalization of $937.53 million, a P/E ratio of 22.72, a P/E/G ratio of 1.28 and a beta of 2.41. The company has a 50-day simple moving average of $17.89 and a 200-day simple moving average of $16.88. Core Laboratories has a one year low of $13.82 and a one year high of $27.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.85 and a current ratio of 2.68.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. The company had revenue of $129.64 million for the quarter, compared to analysts’ expectations of $124.47 million. As a group, equities analysts expect that Core Laboratories will post 0.73 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 6th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Friday, May 3rd. Core Laboratories’s payout ratio is currently 4.55%.

Institutional Trading of Core Laboratories

A number of large investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC acquired a new stake in shares of Core Laboratories during the 4th quarter valued at $48,000. Quadrant Capital Group LLC lifted its holdings in shares of Core Laboratories by 84.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 1,538 shares during the last quarter. CWM LLC boosted its position in shares of Core Laboratories by 1,178.6% in the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 3,300 shares during the period. Lindbrook Capital LLC increased its stake in 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 purchasing an additional 612 shares in the last quarter. Finally, Platinum Investment Management Ltd. raised its holdings in Core Laboratories by 43.8% during the 4th quarter. Platinum Investment Management Ltd. now owns 5,577 shares of the oil and gas company’s stock worth $98,000 after buying an additional 1,698 shares during the period. 97.81% of the stock is currently owned by institutional investors.

About Core Laboratories

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.