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

Core Laboratories Inc. (NYSE:CLB) has been assigned an average rating of “Reduce” from the four research firms that are covering the stock, Marketbeat 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 price objective among analysts that have covered the stock in the last year is $18.50.

Several research analysts have weighed in on CLB shares. Piper Sandler dropped their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus raised their price objective on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Finally, Bank of America dropped their price target on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th.

Core Laboratories Price Performance

Shares of CLB opened at $17.51 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68. The company has a market capitalization of $821.22 million, a price-to-earnings ratio of 19.90, a P/E/G ratio of 0.94 and a beta of 2.37. The business’s 50-day moving average is $20.36 and its 200-day moving average is $18.54. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.20.

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

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors 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 dividend payout ratio is currently 4.55%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC acquired a new position in shares of Core Laboratories during the 2nd quarter worth about $36,000. Quadrant Capital Group LLC lifted 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 during the last quarter. GAMMA Investing LLC boosted 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 acquiring an additional 857 shares during the period. CWM LLC grew 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 worth $61,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Lindbrook Capital LLC increased its position in 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 worth $63,000 after acquiring an additional 612 shares during the period. Institutional investors and hedge funds own 97.81% of the company’s stock.

About Core Laboratories

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.