Analysts Set Core Laboratories Inc. (NYSE:CLB) PT at $19.88

Core Laboratories Inc. (NYSE:CLB) has earned a consensus recommendation of “Reduce” from the four ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.50.

Several research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on Core Laboratories from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, February 5th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Finally, Bank of America cut their price target on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday.

Core Laboratories Stock Performance

Core Laboratories stock opened at $17.40 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. The stock has a market cap of $815.36 million, a PE ratio of 20.23, a P/E/G ratio of 0.55 and a beta of 2.40. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $27.94. The business’s 50-day moving average price is $15.92 and its two-hundred day moving average price is $17.93.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. The company had revenue of $128.21 million for the quarter, compared to the consensus estimate of $127.80 million. During the same period in the previous year, the firm posted $0.23 EPS. As a group, analysts expect that Core Laboratories will post 0.81 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Stockholders of record on Monday, February 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Friday, February 9th. Core Laboratories’s dividend payout ratio is 4.65%.

Hedge Funds Weigh In On Core Laboratories

Several institutional investors have recently added to or reduced their stakes in CLB. Allspring Global Investments Holdings LLC bought a new stake in shares of Core Laboratories during the third quarter valued at approximately $31,000. State of Wyoming increased its position in shares of Core Laboratories by 43.1% during the second quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 436 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in Core Laboratories by 9,913.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,502 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,487 shares in the last quarter. UBS Group AG boosted its stake in Core Laboratories by 171.6% during the 3rd quarter. UBS Group AG now owns 3,200 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 2,022 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Core Laboratories during the 4th quarter worth approximately $48,000. 97.81% of the stock is owned by institutional investors and hedge funds.

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.