Brokerages Set Core Laboratories Inc. (NYSE:CLB) Price Target at $18.50

Core Laboratories Inc. (NYSE:CLB) has received a consensus recommendation of “Reduce” from the four analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.50.

Several equities research analysts have issued reports on the stock. Piper Sandler lowered their price target on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. 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 research report on Friday, July 26th. Bank of America decreased their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a report on Monday, July 15th. Finally, StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Friday, July 26th.

Core Laboratories Stock Up 3.0 %

CLB stock opened at $17.51 on Tuesday. The business’s 50-day simple moving average is $20.36 and its 200 day simple moving average is $18.54. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. The company has a market cap of $821.22 million, a PE ratio of 19.90, a price-to-earnings-growth ratio of 0.94 and a beta of 2.37. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.20.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $130.58 million for the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. Core Laboratories’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 EPS. On average, research analysts anticipate that Core Laboratories will post 0.8 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Monday, August 5th. Core Laboratories’s payout ratio is 4.55%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Headlands Technologies LLC bought a new stake in Core Laboratories during the 2nd quarter worth approximately $36,000. Quadrant Capital Group LLC boosted its stake in Core Laboratories by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 1,538 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Core Laboratories by 31.6% during the first quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 857 shares during the last quarter. CWM LLC increased its stake 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 in the last quarter. Finally, Lindbrook Capital LLC raised its holdings 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 during the last quarter. Institutional investors 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.