Core Laboratories (NYSE:CLB) Stock Price Down 4% – Should You Sell?

Shares of Core Laboratories Inc. (NYSE:CLB) dropped 4% on Friday . The company traded as low as $19.06 and last traded at $19.06. Approximately 9,283 shares changed hands during trading, a decline of 98% from the average daily volume of 413,298 shares. The stock had previously closed at $19.86.

Analyst Ratings Changes

A number of brokerages recently commented on CLB. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup dropped their price target on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, Core Laboratories presently has a consensus rating of “Hold” and an average price target of $17.00.

Core Laboratories Stock Down 2.9 %

The business’s fifty day moving average price is $19.63 and its 200 day moving average price is $19.62. The firm has a market capitalization of $905.67 million, a price-to-earnings ratio of 30.55, a PEG ratio of 1.39 and a beta of 2.35. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The firm had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.22 EPS. On average, equities analysts expect that Core Laboratories Inc. will post 0.8 EPS for the current year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Core Laboratories’s dividend payout ratio is currently 6.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLB. Headlands Technologies LLC acquired a new stake in shares of Core Laboratories during the second quarter worth $36,000. nVerses Capital LLC acquired a new stake in shares of Core Laboratories in the third quarter worth $48,000. GAMMA Investing LLC raised its position in Core Laboratories by 23.9% in the second quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock valued at $90,000 after purchasing an additional 855 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in shares of Core Laboratories by 11.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 600 shares in the last quarter. Finally, Signaturefd LLC raised its stake in shares of Core Laboratories by 12.8% during the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock valued at $137,000 after purchasing an additional 767 shares during the period. Hedge funds and other institutional investors 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.