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

Core Laboratories Inc. (NYSE:CLB) has been assigned a consensus rating of “Reduce” from the four ratings firms that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $18.75.

Several research analysts have weighed in on the stock. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, January 20th. Bank of America lowered their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday, April 15th. Finally, Stifel Nicolaus lifted their price objective on Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 26th.

Hedge Funds Weigh In On Core Laboratories

Several hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in shares of Core Laboratories during the third quarter valued at $31,000. GAMMA Investing LLC acquired a new stake in shares of Core Laboratories during the 4th quarter worth about $48,000. Quadrant Capital Group LLC grew its holdings in shares of Core Laboratories by 84.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock worth $60,000 after buying an additional 1,538 shares in the last quarter. CWM LLC raised its position in shares of Core Laboratories by 1,178.6% in the first 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 during the last quarter. Finally, Lindbrook Capital LLC lifted its stake in shares of Core Laboratories by 19.7% during the first 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 during the period. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Stock Performance

Shares of CLB stock opened at $16.08 on Wednesday. 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 50 day simple moving average of $16.54 and a 200-day simple moving average of $17.19. The company has a market cap of $754.15 million, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 0.90 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 released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. The company had revenue of $129.64 million during the quarter, compared to the consensus estimate of $124.47 million. On average, equities analysts forecast that Core Laboratories will post 0.8 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Investors of record on Monday, May 6th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, May 3rd. Core Laboratories’s payout ratio is currently 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.