Core Laboratories (NYSE:CLB) Sets New 12-Month Low at $13.96

Core Laboratories (NYSE:CLBGet Rating)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $13.96 and last traded at $14.32, with a volume of 2854 shares changing hands. The stock had previously closed at $15.74.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus cut their price target on Core Laboratories from $26.00 to $20.00 in a report on Tuesday, July 26th. Morgan Stanley cut their price target on Core Laboratories from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Monday, August 1st.

Core Laboratories Stock Performance

The company has a market capitalization of $667.15 million, a P/E ratio of 75.58, a price-to-earnings-growth ratio of 0.72 and a beta of 2.59. The firm has a 50 day moving average price of $17.04 and a two-hundred day moving average price of $23.29. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.53 and a current ratio of 2.08.

Core Laboratories (NYSE:CLBGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The oil and gas company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.02). Core Laboratories had a net margin of 1.82% and a return on equity of 16.12%. The company had revenue of $120.90 million during the quarter, compared to the consensus estimate of $121.35 million. During the same quarter in the prior year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts expect that Core Laboratories will post 0.54 earnings per share for the current fiscal year.

Core Laboratories Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 29th. Stockholders of record on Monday, August 8th were paid a $0.01 dividend. The ex-dividend date was Friday, August 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.28%. Core Laboratories’s dividend payout ratio is currently 21.05%.

Institutional Investors Weigh In On Core Laboratories

Large investors have recently modified their holdings of the stock. Boston Trust Walden Corp bought a new stake in Core Laboratories during the 2nd quarter worth approximately $39,492,000. Marshall Wace LLP grew its position in Core Laboratories by 382.2% during the 4th quarter. Marshall Wace LLP now owns 835,491 shares of the oil and gas company’s stock worth $18,638,000 after acquiring an additional 662,216 shares during the last quarter. Congress Asset Management Co. MA bought a new stake in Core Laboratories during the 1st quarter worth approximately $13,499,000. Ariel Investments LLC grew its position in Core Laboratories by 5.1% during the 1st quarter. Ariel Investments LLC now owns 8,198,544 shares of the oil and gas company’s stock worth $259,320,000 after acquiring an additional 394,237 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Core Laboratories by 21.5% during the 1st quarter. Van ECK Associates Corp now owns 2,098,713 shares of the oil and gas company’s stock worth $66,382,000 after acquiring an additional 370,891 shares during the last quarter. 98.22% of the stock is currently owned by institutional investors.

About Core Laboratories

(Get Rating)

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. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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