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

Core Laboratories Inc. (NYSE:CLB) has been given an average rating of “Reduce” by the four research firms that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $17.00.

CLB has been the subject of several research analyst reports. Citigroup decreased their price objective on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday. Stifel Nicolaus increased their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America decreased their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research note on Monday, July 15th. Finally, Piper Sandler cut their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th.

Core Laboratories Trading Up 10.5 %

CLB opened at $21.59 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48. The stock’s 50 day moving average price is $18.63 and its 200-day moving average price is $19.09. Core Laboratories has a one year low of $13.82 and a one year high of $25.13. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 33.22, a P/E/G ratio of 1.32 and a beta of 2.35.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The company had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. During the same period last year, the business posted $0.22 EPS. Core Laboratories’s quarterly revenue was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Core Laboratories will post 0.77 EPS for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 4th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio is presently 6.15%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Ariel Investments LLC increased its position in Core Laboratories by 20.4% in the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock valued at $184,902,000 after acquiring an additional 1,837,258 shares during the period. Vanguard Group Inc. raised its stake in shares of Core Laboratories by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock worth $92,096,000 after purchasing an additional 27,701 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Core Laboratories by 446.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock worth $90,508,000 after purchasing an additional 3,644,963 shares during the period. Earnest Partners LLC grew its position in Core Laboratories by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock valued at $66,682,000 after buying an additional 195,756 shares during the last quarter. Finally, Royce & Associates LP increased its stake in Core Laboratories by 9.0% in the 3rd quarter. Royce & Associates LP now owns 1,021,121 shares of the oil and gas company’s stock valued at $18,921,000 after buying an additional 84,022 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.

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.