Core Laboratories (NYSE:CLB) Hits New 52-Week Low – What’s Next?

Shares of Core Laboratories Inc. (NYSE:CLB) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $12.95 and last traded at $13.71, with a volume of 729774 shares changing hands. The stock had previously closed at $13.81.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on CLB shares. Citigroup lifted their price objective on Core Laboratories from $14.00 to $15.00 and gave the stock a “sell” rating in a research report on Thursday, February 20th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. 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, Core Laboratories currently has an average rating of “Hold” and an average price target of $17.25.

Core Laboratories Trading Down 0.7 %

The firm has a market capitalization of $642.14 million, a PE ratio of 20.78, a PEG ratio of 0.99 and a beta of 2.38. The business has a fifty day moving average price of $17.48 and a two-hundred day moving average price of $18.50. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.49.

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

Core Laboratories Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, February 10th. Core Laboratories’s payout ratio is 6.06%.

Institutional Trading of Core Laboratories

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Assetmark Inc. acquired a new position in shares of Core Laboratories in the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC grew its stake in shares of Core Laboratories by 173.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company’s stock worth $35,000 after acquiring an additional 1,293 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Core Laboratories by 2,688.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,426 shares of the oil and gas company’s stock worth $42,000 after acquiring an additional 2,339 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Core Laboratories by 843.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company’s stock valued at $57,000 after acquiring an additional 2,936 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in Core Laboratories in the fourth quarter valued at $123,000. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Company Profile

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.