Core Laboratories (NYSE:CLB) Sets New 12-Month Low – Here’s What Happened

Core Laboratories Inc. (NYSE:CLB)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $12.79 and last traded at $12.88, with a volume of 135476 shares trading hands. The stock had previously closed at $14.92.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of Core Laboratories from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $15.00 to $16.00 in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

Core Laboratories Trading Down 10.9 %

The firm has a 50 day moving average of $15.86 and a 200 day moving average of $17.99. The firm has a market cap of $560.71 million, a PE ratio of 18.14, a P/E/G ratio of 0.99 and a beta of 2.38. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.49.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. Equities analysts anticipate that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date was Monday, February 10th. Core Laboratories’s payout ratio is currently 6.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CLB. Confluence Investment Management LLC lifted its position in shares of Core Laboratories by 0.4% during the fourth quarter. Confluence Investment Management LLC now owns 136,359 shares of the oil and gas company’s stock worth $2,360,000 after acquiring an additional 599 shares in the last quarter. Isthmus Partners LLC raised its stake in shares of Core Laboratories by 5.6% during the 4th quarter. Isthmus Partners LLC now owns 11,219 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 599 shares during the period. Tidal Investments LLC lifted its holdings in Core Laboratories by 1.7% during the 3rd quarter. Tidal Investments LLC now owns 43,862 shares of the oil and gas company’s stock worth $813,000 after purchasing an additional 716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Core Laboratories by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,723 shares of the oil and gas company’s stock worth $463,000 after purchasing an additional 960 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in Core Laboratories by 173.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company’s stock valued at $35,000 after buying an additional 1,293 shares in the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

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.