Core Laboratories Inc. (NYSE:CLB) Receives $18.50 Consensus Price Target from Brokerages

Core Laboratories Inc. (NYSE:CLB) has been given a consensus recommendation of “Reduce” by the four brokerages that are currently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

CLB has been the subject of several research reports. Piper Sandler reduced their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Stifel Nicolaus boosted their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America cut their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company 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 Performance

Shares of CLB stock opened at $19.49 on Friday. The stock has a fifty day moving average price of $20.77 and a 200 day moving average price of $18.01. The stock has a market cap of $914.08 million, a PE ratio of 22.15, a P/E/G ratio of 1.47 and a beta of 2.41. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $26.49. 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 issued its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $130.58 million during the quarter, compared to analysts’ expectations 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 was up 2.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.23 earnings per share. Sell-side analysts forecast that Core Laboratories will post 0.71 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 5th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date is Monday, August 5th. Core Laboratories’s dividend payout ratio is currently 4.55%.

Institutional Trading of Core Laboratories

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN boosted its position in shares of 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 acquiring an additional 3,644,963 shares during the last quarter. Ariel Investments LLC increased its position in Core Laboratories by 20.4% during 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 purchasing an additional 1,837,258 shares during the last quarter. Congress Asset Management Co. MA raised its stake in Core Laboratories by 17.6% during 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 purchasing an additional 240,989 shares during the period. Earnest Partners LLC grew its stake in shares of Core Laboratories by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock valued at $66,682,000 after buying an additional 195,756 shares during the period. Finally, Gendell Jeffrey L increased its holdings in shares of Core Laboratories by 101.7% during the 1st 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 during the last quarter. Hedge funds and other 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.