Core Laboratories (NYSE:CLB) Shares Down 5%

Core Laboratories (NYSE:CLB)’s stock price traded down 5% during mid-day trading on Monday . The company traded as low as $42.55 and last traded at $42.96, 940,187 shares traded hands during trading. An increase of 50% from the average session volume of 628,538 shares. The stock had previously closed at $45.24.

A number of analysts recently issued reports on the company. Zacks Investment Research downgraded Core Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, April 26th. Bank of America raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a research report on Wednesday, July 10th. Morgan Stanley dropped their target price on Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Friday, July 12th. ValuEngine downgraded Core Laboratories from a “sell” rating to a “strong sell” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus set a $75.00 target price on Core Laboratories and gave the company a “buy” rating in a research report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $75.67.

The stock has a market capitalization of $1.94 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 3.95 and a beta of 1.91. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.80 and a quick ratio of 1.41. The stock’s 50-day moving average price is $52.18.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. The company had revenue of $169.04 million during the quarter, compared to the consensus estimate of $173.46 million. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. Core Laboratories’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. On average, sell-side analysts anticipate that Core Laboratories will post 1.75 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 12th. Stockholders of record on Monday, July 22nd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Friday, July 19th. Core Laboratories’s payout ratio is presently 96.49%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System boosted its stake in shares of Core Laboratories by 1.7% in the 1st quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the oil and gas company’s stock valued at $820,000 after buying an additional 200 shares during the period. Parallel Advisors LLC boosted its stake in shares of Core Laboratories by 11.3% in the 1st quarter. Parallel Advisors LLC now owns 1,964 shares of the oil and gas company’s stock valued at $135,000 after buying an additional 200 shares during the period. Conestoga Capital Advisors LLC boosted its stake in shares of Core Laboratories by 1.4% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 18,050 shares of the oil and gas company’s stock valued at $944,000 after buying an additional 250 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of Core Laboratories by 1.4% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 17,958 shares of the oil and gas company’s stock valued at $939,000 after buying an additional 253 shares during the period. Finally, Long Road Investment Counsel LLC boosted its stake in shares of Core Laboratories by 3.7% in the 1st quarter. Long Road Investment Counsel LLC now owns 8,510 shares of the oil and gas company’s stock valued at $587,000 after buying an additional 300 shares during the period.

About Core Laboratories (NYSE:CLB)

Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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