Core Laboratories (NYSE:CLB) PT Raised to $22.00

Core Laboratories (NYSE:CLB) had its price target upped by Stifel Nicolaus from $18.00 to $22.00 in a report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the oil and gas company’s stock.

A number of other analysts also recently weighed in on the stock. Bank of America decreased their target price on shares of Core Laboratories from $16.00 to $15.00 and set an underperform rating for the company in a research report on Monday, July 15th. StockNews.com downgraded shares of Core Laboratories from a hold rating to a sell rating in a research report on Wednesday, July 10th. Finally, Piper Sandler decreased their target price on shares of Core Laboratories from $18.00 to $17.00 and set a neutral rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $18.50.

Core Laboratories Stock Performance

Core Laboratories stock opened at $24.21 on Friday. The business has a 50 day moving average of $19.88 and a 200-day moving average of $17.44. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.85. The company has a market capitalization of $1.14 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.54 and a beta of 2.41.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $130.58 million during the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts predict that Core Laboratories will post 0.71 earnings per share for the current year.

Core Laboratories Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 5th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.17%. The ex-dividend date is Monday, August 5th. Core Laboratories’s dividend payout ratio (DPR) is 4.55%.

Institutional Trading of Core Laboratories

Several large investors have recently modified their holdings of CLB. Ballentine Partners LLC acquired a new stake in shares of Core Laboratories during the 4th quarter worth approximately $288,000. Louisiana State Employees Retirement System bought a new position in shares of Core Laboratories in the 4th quarter worth $413,000. Illinois Municipal Retirement Fund lifted its holdings in shares of Core Laboratories by 10.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 27,921 shares of the oil and gas company’s stock worth $493,000 after purchasing an additional 2,641 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Core Laboratories in the 4th quarter worth $48,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Core Laboratories by 33.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 138,951 shares of the oil and gas company’s stock worth $2,454,000 after purchasing an additional 34,765 shares in the last quarter. Institutional investors and hedge funds 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.