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

Core Laboratories Inc. (NYSE:CLB) has received a consensus recommendation of “Reduce” from the four brokerages that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

Several analysts have issued reports on CLB shares. Piper Sandler cut their price target on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Bank of America cut their price target on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus increased their target price 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. Finally, StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Friday, July 26th.

Hedge Funds Weigh In On Core Laboratories

A number of institutional investors have recently bought and sold shares of CLB. Disciplined Growth Investors Inc. MN raised its stake in Core Laboratories by 446.8% in 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 buying an additional 3,644,963 shares in the last quarter. Ariel Investments LLC raised its stake in Core Laboratories by 20.4% in the first quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after buying an additional 1,837,258 shares in the last quarter. Congress Asset Management Co. MA raised its stake in Core Laboratories by 17.6% in the first quarter. Congress Asset Management Co. MA now owns 1,606,745 shares of the oil and gas company’s stock worth $27,443,000 after buying an additional 240,989 shares in the last quarter. Earnest Partners LLC raised its stake in Core Laboratories by 6.3% in the second quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after buying an additional 195,756 shares in the last quarter. Finally, Gendell Jeffrey L raised its stake in Core Laboratories by 101.7% in the first quarter. Gendell Jeffrey L now owns 326,890 shares of the oil and gas company’s stock worth $5,583,000 after buying an additional 164,797 shares in the last quarter. 97.81% of the stock is owned by institutional investors.

Core Laboratories Trading Down 4.8 %

Core Laboratories stock opened at $18.33 on Friday. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $26.49. The firm’s fifty day moving average price is $20.79 and its 200-day moving average price is $18.07. The stock has a market cap of $859.68 million, a P/E ratio of 20.83, a PEG ratio of 1.47 and a beta of 2.41. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The business had revenue of $130.58 million during the quarter, compared to analyst estimates of $132.85 million. During the same period in the prior year, the business posted $0.23 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Core Laboratories will post 0.71 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. Core Laboratories’s dividend 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.