Core Laboratories Inc. (NYSE:CLB) Given Consensus Rating of “Reduce” by Brokerages

Shares of Core Laboratories Inc. (NYSE:CLB) have earned a consensus recommendation of “Reduce” from the four ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

CLB has been the topic of several recent analyst reports. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Piper Sandler dropped their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus upped their price objective on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Bank of America lowered their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a report on Monday, July 15th.

Hedge Funds Weigh In On Core Laboratories

Large investors have recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of Core Laboratories in the 2nd quarter valued at $36,000. GAMMA Investing LLC bought a new stake in Core Laboratories in the 4th quarter valued at about $48,000. Quadrant Capital Group LLC increased its position in Core Laboratories by 84.0% in the 4th quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 1,538 shares in the last quarter. CWM LLC increased its position in 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 buying an additional 3,300 shares in the last quarter. Finally, Lindbrook Capital LLC increased its position 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 valued at $63,000 after buying an additional 612 shares in the last quarter. Institutional investors own 97.81% of the company’s stock.

Core Laboratories Price Performance

NYSE:CLB opened at $18.33 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $26.49. The firm has a market cap of $859.68 million, a P/E ratio of 20.83, a PEG ratio of 1.47 and a beta of 2.41. The business’s 50-day moving average price is $20.79 and its 200 day moving average price is $18.07.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The business had revenue of $130.58 million during the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 EPS. As a group, sell-side analysts predict that Core Laboratories will post 0.71 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 5th will be given a $0.01 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. 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.