Core Laboratories (NYSE:CLB) Price Target Increased to $18.00 by Analysts at Stifel Nicolaus

Core Laboratories (NYSE:CLB) had its target price lifted by Stifel Nicolaus from $17.00 to $18.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a hold rating on the oil and gas company’s stock.

A number of other analysts have also weighed in on the stock. StockNews.com raised shares of Core Laboratories from a sell rating to a hold rating in a research report on Saturday, January 20th. Bank of America reduced their price objective on shares of Core Laboratories from $17.00 to $16.00 and set an underperform rating on the stock in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average target price of $18.75.

Core Laboratories Stock Up 0.1 %

Shares of NYSE CLB opened at $16.95 on Friday. The firm’s 50-day moving average price is $16.39 and its 200-day moving average price is $17.49. The company has a current ratio of 2.68, a quick ratio of 1.85 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $794.96 million, a price-to-earnings ratio of 19.26, a P/E/G ratio of 0.96 and a beta of 2.40. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $27.94.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.02. Core Laboratories had a net margin of 8.18% and a return on equity of 15.71%. The firm had revenue of $129.64 million for the quarter, compared to analysts’ expectations of $124.47 million. On average, equities research analysts anticipate that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th will be paid a $0.01 dividend. The ex-dividend date is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. Core Laboratories’s dividend payout ratio is currently 4.55%.

Hedge Funds Weigh In On Core Laboratories

A number of hedge funds have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC grew 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 acquiring an additional 612 shares in the last quarter. Morningstar Investment Services LLC grew its stake in Core Laboratories by 6.0% in the 3rd quarter. Morningstar Investment Services LLC now owns 13,570 shares of the oil and gas company’s stock worth $333,000 after acquiring an additional 764 shares in the last quarter. GAMMA Investing LLC grew its stake in Core Laboratories by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 857 shares in the last quarter. Swiss National Bank grew its stake in Core Laboratories by 1.0% in the 3rd quarter. Swiss National Bank now owns 102,500 shares of the oil and gas company’s stock worth $2,461,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in Core Laboratories in the 3rd quarter worth about $31,000. 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.