Core Laboratories (CLB) Reaches New 1-Year Low at $75.92

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Core Laboratories (NYSE:CLB) reached a new 52-week low during trading on Thursday . The company traded as low as $75.92 and last traded at $76.02, with a volume of 40495 shares changing hands. The stock had previously closed at $79.54.

CLB has been the topic of a number of recent analyst reports. Piper Jaffray Companies set a $95.00 price target on Core Laboratories and gave the company a “hold” rating in a report on Friday, October 5th. Bank of America initiated coverage on Core Laboratories in a report on Wednesday, October 17th. They set a “neutral” rating on the stock. Guggenheim raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $120.00 price target on the stock in a report on Friday, November 16th. JPMorgan Chase & Co. raised their price target on Core Laboratories from $118.00 to $121.00 and gave the company an “overweight” rating in a report on Monday, September 17th. Finally, Morgan Stanley set a $115.00 price target on Core Laboratories and gave the company a “hold” rating in a report on Thursday, October 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $111.09.

The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 37.50, a PEG ratio of 2.40 and a beta of 1.65. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.31 and a quick ratio of 1.85.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $182.15 million during the quarter, compared to analyst estimates of $178.11 million. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. As a group, analysts forecast that Core Laboratories will post 2.3 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Friday, October 19th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Thursday, October 18th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.93%. Core Laboratories’s payout ratio is 110.00%.

Several institutional investors have recently modified their holdings of the company. Signaturefd LLC grew its position in Core Laboratories by 403.7% in the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 650 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Core Laboratories in the third quarter worth about $122,000. Capital International Inc. CA purchased a new position in Core Laboratories in the third quarter worth about $156,000. Parallel Advisors LLC grew its position in Core Laboratories by 73.3% in the third quarter. Parallel Advisors LLC now owns 1,634 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 691 shares in the last quarter. Finally, WMS Partners LLC purchased a new position in Core Laboratories in the second quarter worth about $202,000.

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Core Laboratories Company Profile (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. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises 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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