Core Laboratories (NYSE:CLB) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Core Laboratories (NYSE:CLB) from a sell rating to a hold rating in a research report report published on Thursday.

Other analysts have also issued reports about the company. Citigroup lowered their price objective on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Bank of America dropped their price objective 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. Piper Sandler decreased their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, July 15th. Finally, Stifel Nicolaus upped their price objective on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $17.00.

Core Laboratories Price Performance

Shares of NYSE CLB traded down $0.14 during mid-day trading on Thursday, reaching $20.73. 49,876 shares of the company traded hands, compared to its average volume of 427,030. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. The firm has a market cap of $973.27 million, a PE ratio of 32.08, a price-to-earnings-growth ratio of 1.35 and a beta of 2.35. The stock has a fifty day simple moving average of $18.71 and a 200-day simple moving average of $19.12.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $134.16 million. During the same quarter in the prior year, the company posted $0.22 earnings per share. The firm’s revenue was up 7.2% on a year-over-year basis. Equities research analysts anticipate that Core Laboratories will post 0.77 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. Core Laboratories’s payout ratio is 6.15%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System raised its stake in Core Laboratories by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the oil and gas company’s stock worth $479,000 after buying an additional 500 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Core Laboratories by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock worth $366,000 after purchasing an additional 579 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in 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 worth $114,000 after purchasing an additional 600 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position in Core Laboratories by 1.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 54,310 shares of the oil and gas company’s stock worth $1,102,000 after acquiring an additional 758 shares during the period. Finally, Signaturefd LLC raised its position in Core Laboratories by 12.8% in the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock worth $137,000 after acquiring an additional 767 shares during the period. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

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.