Analysts Set Core Laboratories Inc. (NYSE:CLB) PT at $18.75

Core Laboratories Inc. (NYSE:CLB) has been assigned a consensus recommendation of “Reduce” from the four brokerages that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $18.75.

CLB has been the topic of several recent analyst reports. Stifel Nicolaus upped their target price on Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America dropped their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds have recently modified their holdings of CLB. Lindbrook Capital LLC increased its position in shares of Core Laboratories by 19.7% in 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 in the last quarter. Morningstar Investment Services LLC raised its position in Core Laboratories by 6.0% during the third 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 during the period. Platinum Investment Management Ltd. lifted its holdings in Core Laboratories by 13.9% during the first quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 774 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Core Laboratories by 31.6% in the first quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 857 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Core Laboratories by 2.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 53,552 shares of the oil and gas company’s stock worth $915,000 after purchasing an additional 1,129 shares in the last quarter. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Trading Down 1.5 %

Shares of NYSE CLB opened at $19.99 on Thursday. The company has a quick ratio of 1.85, a current ratio of 2.68 and a debt-to-equity ratio of 0.68. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $27.94. The business has a fifty day simple moving average of $17.89 and a two-hundred day simple moving average of $16.88. The firm has a market cap of $937.53 million, a PE ratio of 22.72, a price-to-earnings-growth ratio of 1.28 and a beta of 2.41.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $129.64 million for the quarter, compared to the consensus estimate of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. Analysts expect that Core Laboratories will post 0.73 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Shareholders of record on Monday, May 6th were given a $0.01 dividend. The ex-dividend date was Friday, May 3rd. This represents a $0.04 annualized dividend and a yield of 0.20%. Core Laboratories’s dividend payout ratio is presently 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.