Core Laboratories (CLB) Hits New 12-Month Low at $78.44

Shares of Core Laboratories (NYSE:CLB) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $78.44 and last traded at $79.17, with a volume of 24522 shares traded. The stock had previously closed at $82.94.

A number of analysts have recently issued reports on CLB shares. ValuEngine raised Core Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Edward Jones assumed coverage on Core Laboratories in a research report on Tuesday, September 4th. They set a “buy” rating on the stock. Credit Suisse Group lowered their price objective on Core Laboratories from $122.00 to $105.00 and set a “buy” rating for the company in a report on Friday, October 26th. Stifel Nicolaus raised Core Laboratories from a “hold” rating to a “buy” rating and lowered their price objective for the company from $117.00 to $110.00 in a report on Monday, October 29th. Finally, ABN Amro raised Core Laboratories from a “sell” rating to a “buy” rating in a report on Wednesday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $112.08.

The company has a debt-to-equity ratio of 1.83, a current ratio of 2.31 and a quick ratio of 1.85. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 39.63, a PEG ratio of 2.43 and a beta of 1.64.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The firm had revenue of $182.15 million during the quarter, compared to analyst estimates of $178.11 million. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. Core Laboratories’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.46 earnings per share. As a group, sell-side analysts anticipate that Core Laboratories will post 2.31 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 20th. Investors of record on Friday, October 19th were issued a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend was Thursday, October 18th. Core Laboratories’s dividend payout ratio is currently 110.00%.

Hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its stake in Core Laboratories by 403.7% in the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 650 shares during the period. Capital International Inc. CA acquired a new position in Core Laboratories in the third quarter valued at approximately $156,000. WMS Partners LLC acquired a new position in Core Laboratories in the second quarter valued at approximately $202,000. World Asset Management Inc acquired a new position in Core Laboratories in the second quarter valued at approximately $205,000. Finally, Parallel Advisors LLC boosted its stake in Core Laboratories by 73.3% in the third quarter. Parallel Advisors LLC now owns 1,634 shares of the oil and gas company’s stock valued at $189,000 after acquiring an additional 691 shares during the period.

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Core Laboratories Company Profile (NYSE:CLB)

Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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