Core Laboratories Inc. (NYSE:CLB) Given Consensus Recommendation of “Reduce” by Brokerages

Core Laboratories Inc. (NYSE:CLB) has been assigned a consensus rating of “Reduce” from the four ratings firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $18.75.

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, April 26th. Bank of America cut their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research note on Monday, April 15th.

Core Laboratories Trading Down 0.1 %

Core Laboratories stock opened at $19.40 on Thursday. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94. The firm’s 50 day moving average price is $17.71 and its 200-day moving average price is $16.83. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.68 and a quick ratio of 1.85. The stock has a market cap of $909.86 million, a P/E ratio of 22.05, a PEG ratio of 1.22 and a beta of 2.39.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $129.64 million during the quarter, compared to analyst estimates of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. On average, equities analysts predict that Core Laboratories will post 0.73 earnings per share for the current fiscal year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 28th. Stockholders of record on Monday, May 6th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.21%. Core Laboratories’s payout ratio is 4.55%.

Institutional Investors Weigh In On Core Laboratories

Large investors have recently modified their holdings of the business. Deutsche Bank AG raised its position in Core Laboratories by 18.2% during the 3rd quarter. Deutsche Bank AG now owns 27,524 shares of the oil and gas company’s stock worth $661,000 after buying an additional 4,247 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Core Laboratories by 2.7% during the third quarter. Rhumbline Advisers now owns 143,141 shares of the oil and gas company’s stock worth $3,437,000 after purchasing an additional 3,703 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Core Laboratories by 72.7% during the third quarter. PNC Financial Services Group Inc. now owns 6,017 shares of the oil and gas company’s stock valued at $144,000 after purchasing an additional 2,533 shares during the period. Envestnet Asset Management Inc. lifted its position in Core Laboratories by 39.7% during the third quarter. Envestnet Asset Management Inc. now owns 328,435 shares of the oil and gas company’s stock valued at $7,886,000 after purchasing an additional 93,354 shares during the period. Finally, Invesco Ltd. boosted its holdings in Core Laboratories by 25.3% in the third quarter. Invesco Ltd. now owns 436,459 shares of the oil and gas company’s stock valued at $10,479,000 after purchasing an additional 88,013 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

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.