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 Monday morning.

Other equities research analysts have also issued research reports about the stock. Stifel Nicolaus upped their target price on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Bank of America cut their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a report on Monday, July 15th. Finally, Piper Sandler decreased 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 note on Monday, July 15th. Two equities research 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 has a consensus rating of “Hold” and an average price target of $17.00.

Core Laboratories Trading Down 1.9 %

Shares of Core Laboratories stock opened at $18.92 on Monday. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.13. The firm’s 50-day moving average price is $18.59 and its 200 day moving average price is $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 firm has a market capitalization of $888.29 million, a PE ratio of 29.11, a P/E/G ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last released its 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 15.20% and a net margin of 5.44%. The business had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. During the same quarter last year, the business posted $0.22 earnings per share. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Core Laboratories will post 0.8 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Monday, November 4th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Monday, November 4th. Core Laboratories’s payout ratio is currently 6.15%.

Hedge Funds Weigh In On Core Laboratories

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Core Laboratories by 9.0% during the 1st quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company’s stock worth $10,915,000 after buying an additional 52,639 shares during the last quarter. Vanguard Group Inc. grew its position 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 worth $92,096,000 after acquiring an additional 27,701 shares during the period. Congress Wealth Management LLC DE increased its stake in Core Laboratories by 40.8% during the first quarter. Congress Wealth Management LLC DE now owns 183,282 shares of the oil and gas company’s stock worth $3,130,000 after acquiring an additional 53,090 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in Core Laboratories by 446.8% in the second 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 purchasing an additional 3,644,963 shares during the period. Finally, PEAK6 Investments LLC lifted its stake in shares of Core Laboratories by 106.5% in the 1st quarter. PEAK6 Investments LLC now owns 61,005 shares of the oil and gas company’s stock valued at $1,042,000 after purchasing an additional 31,459 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.