Brokerages Set Core Laboratories Inc. (NYSE:CLB) PT at $18.50

Shares of Core Laboratories Inc. (NYSE:CLB) have been assigned an average recommendation of “Reduce” from the four brokerages that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $18.50.

CLB has been the subject of several research analyst reports. Stifel Nicolaus upped their price target 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. Bank of America reduced their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a report on Monday, July 15th. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, 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 research note on Monday, July 15th.

Institutional Trading of Core Laboratories

A number of institutional investors have recently bought and sold shares of CLB. Northwestern Mutual Wealth Management Co. raised its stake in shares of Core Laboratories by 11.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 600 shares in the last quarter. Creative Planning increased its holdings in Core Laboratories by 38.3% in the second quarter. Creative Planning now owns 54,891 shares of the oil and gas company’s stock worth $1,114,000 after buying an additional 15,196 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in Core Laboratories by 446.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after acquiring an additional 3,644,963 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Core Laboratories by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock valued at $366,000 after acquiring an additional 579 shares during the last quarter. Finally, Earnest Partners LLC grew its position in Core Laboratories by 6.3% in the second quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after acquiring an additional 195,756 shares in the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

Core Laboratories Stock Performance

Shares of NYSE CLB opened at $18.10 on Friday. The stock’s fifty day simple moving average is $20.79 and its 200 day simple moving average is $18.07. The stock has a market capitalization of $848.89 million, a price-to-earnings ratio of 20.58, a PEG ratio of 1.47 and a beta of 2.41. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $26.49.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The firm had revenue of $130.58 million for 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 quarter last year, the business posted $0.23 EPS. As a group, sell-side analysts forecast that Core Laboratories will post 0.71 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 5th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is presently 4.55%.

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.