Bank of America Cuts Core Laboratories (NYSE:CLB) Price Target to $16.00

Core Laboratories (NYSE:CLB) had its target price trimmed by Bank of America from $17.00 to $16.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has an underperform rating on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the company. Stifel Nicolaus lowered their price target on Core Laboratories from $21.00 to $17.00 and set a hold rating on the stock in a research report on Monday, February 5th. StockNews.com upgraded Core Laboratories from a sell rating to a hold rating in a research report on Saturday, January 20th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of $18.50.

Core Laboratories Stock Up 1.8 %

Shares of CLB opened at $16.99 on Monday. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The company has a quick ratio of 1.72, a current ratio of 2.53 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $796.15 million, a price-to-earnings ratio of 19.76, a PEG ratio of 0.96 and a beta of 2.40. The stock’s 50-day moving average price is $16.05 and its 200-day moving average price is $17.86.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. The company had revenue of $128.21 million during the quarter, compared to analysts’ expectations of $127.80 million. During the same quarter in the previous year, the company earned $0.23 EPS. On average, sell-side analysts predict that Core Laboratories will post 0.81 EPS for the current year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 12th were given a dividend of $0.01 per share. The ex-dividend date was Friday, February 9th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. Core Laboratories’s dividend payout ratio is currently 4.65%.

Hedge Funds Weigh In On Core Laboratories

Hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new position in shares of Core Laboratories during the third quarter valued at approximately $31,000. State of Wyoming raised its holdings in shares of Core Laboratories by 43.1% during the second quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 436 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Core Laboratories by 9,913.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,502 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 1,487 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of Core Laboratories by 185.7% during the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,237 shares during the last quarter. Finally, GAMMA Investing LLC acquired a new position in shares of Core Laboratories during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors 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.