Core Laboratories (NYSE:CLB) Stock Price Down 3.4%

Shares of Core Laboratories Inc. (NYSE:CLB) fell 3.4% during trading on Monday . The stock traded as low as $17.06 and last traded at $17.09. 61,500 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 450,005 shares. The stock had previously closed at $17.69.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Bank of America cut their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus upped their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Finally, Piper Sandler cut their price target 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. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $18.50.

Core Laboratories Trading Down 2.0 %

The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $813.42 million, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 1.01 and a beta of 2.37. The business has a 50 day simple moving average of $20.76 and a 200-day simple moving average of $18.44.

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 the consensus estimate of $0.21 by $0.01. The firm had revenue of $130.58 million during the quarter, compared to analyst estimates of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, equities analysts predict that Core Laboratories Inc. will post 0.79 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 5th were issued a $0.01 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. Core Laboratories’s dividend payout ratio is currently 4.55%.

Institutional Investors Weigh In On Core Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. grew its stake in Core Laboratories by 48.3% in the fourth quarter. Russell Investments Group Ltd. now owns 112,290 shares of the oil and gas company’s stock valued at $1,983,000 after acquiring an additional 36,560 shares during the period. Partnership Wealth Management LLC bought a new stake in shares of Core Laboratories in the 4th quarter valued at $2,197,000. Quadrant Capital Group LLC lifted its stake in shares of Core Laboratories by 84.0% in the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 1,538 shares in the last quarter. Aigen Investment Management LP purchased a new position in Core Laboratories during the fourth quarter worth about $270,000. Finally, Morningstar Investment Services LLC raised its position in Core Laboratories by 101.5% in the fourth quarter. Morningstar Investment Services LLC now owns 27,346 shares of the oil and gas company’s stock worth $495,000 after acquiring an additional 13,776 shares during the period. 97.81% of the stock is owned by institutional investors and hedge funds.

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.