Core Laboratories (NYSE:CLB) Shares Gap Down – Time to Sell?

Core Laboratories Inc. (NYSE:CLB) shares gapped down before the market opened on Monday . The stock had previously closed at $19.43, but opened at $18.76. Core Laboratories shares last traded at $18.77, with a volume of 21,196 shares.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America decreased their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Piper Sandler lowered their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus lifted their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Monday. One analyst has rated the stock with a sell rating and three have given a hold rating to the stock. Based on data from MarketBeat.com, Core Laboratories presently has an average rating of “Hold” and an average price target of $18.00.

Core Laboratories Trading Up 1.6 %

The company has a 50 day simple moving average of $18.55 and a 200 day simple moving average of $19.01. 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 $914.08 million, a PE ratio of 22.15, a P/E/G ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.22 earnings per share. Analysts predict that Core Laboratories Inc. will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 4th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Monday, November 4th. Core Laboratories’s dividend payout ratio is presently 4.55%.

Institutional Trading of Core Laboratories

Several hedge funds have recently modified their holdings of CLB. Ariel Investments LLC increased its holdings in shares of Core Laboratories by 20.4% in the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock valued at $184,902,000 after purchasing an additional 1,837,258 shares in the last quarter. Vanguard Group Inc. increased its holdings in Core Laboratories by 0.5% in the first quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock valued at $92,096,000 after buying an additional 27,701 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Core Laboratories by 446.8% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after acquiring an additional 3,644,963 shares during the period. Earnest Partners LLC grew its holdings in shares of Core Laboratories by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after acquiring an additional 195,756 shares during the period. Finally, Boston Trust Walden Corp increased its stake in Core Laboratories by 1.3% in the 2nd quarter. Boston Trust Walden Corp now owns 729,760 shares of the oil and gas company’s stock valued at $14,807,000 after purchasing an additional 9,468 shares in the last quarter. 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.