Core Laboratories (NYSE:CLB) Shares Gap Up to $17.00

Shares of Core Laboratories Inc. (NYSE:CLB) gapped up prior to trading on Monday . The stock had previously closed at $17.00, but opened at $17.39. Core Laboratories shares last traded at $17.27, with a volume of 9,799 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have commented on CLB shares. Stifel Nicolaus boosted their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Piper Sandler reduced their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. StockNews.com cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Bank of America dropped their price target 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. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $18.50.

Core Laboratories Price Performance

The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68. The company has a 50-day simple moving average of $20.36 and a 200-day simple moving average of $18.54. The stock has a market cap of $875.62 million, a PE ratio of 21.07, a PEG ratio of 0.94 and a beta of 2.37.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm had revenue of $130.58 million during the quarter, compared to analysts’ expectations of $132.85 million. During the same quarter last year, the business earned $0.23 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Core Laboratories Inc. will post 0.8 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.04 annualized dividend and a yield of 0.21%. Core Laboratories’s dividend payout ratio is presently 4.55%.

Institutional Investors Weigh In On Core Laboratories

Institutional investors and hedge funds have recently made changes to their positions in the business. Headlands Technologies LLC acquired a new position in Core Laboratories during the second quarter worth about $36,000. Quadrant Capital Group LLC increased its position in Core Laboratories by 84.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock worth $60,000 after buying an additional 1,538 shares in the last quarter. GAMMA Investing LLC raised its stake in Core Laboratories by 31.6% in the 1st quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock valued at $61,000 after purchasing an additional 857 shares during the last quarter. CWM LLC boosted its position in shares of Core Laboratories by 1,178.6% in the first quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock worth $61,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Lindbrook Capital LLC grew its position in Core Laboratories by 19.7% during the first quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 612 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.