Core Laboratories Inc. (NYSE:CLB) Short Interest Update

Core Laboratories Inc. (NYSE:CLB) saw a significant decrease in short interest in November. As of November 30th, there was short interest totalling 6,500,000 shares, a decrease of 5.1% from the November 15th total of 6,850,000 shares. Based on an average trading volume of 309,300 shares, the days-to-cover ratio is currently 21.0 days. Currently, 14.0% of the company’s shares are short sold.

Core Laboratories Price Performance

CLB opened at $18.96 on Tuesday. The stock has a fifty day simple moving average of $19.67 and a two-hundred day simple moving average of $19.70. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. The company has a market cap of $890.17 million, a price-to-earnings ratio of 29.17, a price-to-earnings-growth ratio of 1.36 and a beta of 2.35. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $25.13.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.04. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The firm had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period last year, the company earned $0.22 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Research analysts predict that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 4th were issued a dividend of $0.01 per share. 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 payout ratio is presently 6.15%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CLB. Citigroup decreased their target price on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Hedge Funds Weigh In On Core Laboratories

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC bought a new position in shares of Core Laboratories during the second quarter valued at $36,000. nVerses Capital LLC purchased a new stake in shares of Core Laboratories during the third quarter valued at $48,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Core Laboratories by 11.9% during 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 during the last quarter. GAMMA Investing LLC boosted its position in shares of Core Laboratories by 33.0% during the third quarter. GAMMA Investing LLC now owns 5,885 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,460 shares during the last quarter. Finally, Signaturefd LLC boosted its position 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 buying an additional 767 shares during the last quarter. 97.81% of the stock is currently owned by 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.