Core Laboratories Inc. (NYSE:CLB) Short Interest Down 5.1% in November

Core Laboratories Inc. (NYSE:CLB) saw a significant decline in short interest in November. As of November 30th, there was short interest totalling 6,500,000 shares, a decline of 5.1% from the November 15th total of 6,850,000 shares. Currently, 14.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 309,300 shares, the short-interest ratio is currently 21.0 days.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds have recently added to or reduced their stakes in the business. Disciplined Growth Investors Inc. MN raised its stake in shares of Core Laboratories by 446.8% during 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 acquiring an additional 3,644,963 shares during the last quarter. Earnest Partners LLC increased its holdings in Core Laboratories by 6.3% in the second quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock valued at $66,682,000 after purchasing an additional 195,756 shares during the period. Eagle Asset Management Inc. bought a new position in Core Laboratories during the 3rd quarter worth $3,531,000. Fisher Asset Management LLC lifted its holdings in Core Laboratories by 19.5% during the 3rd quarter. Fisher Asset Management LLC now owns 990,267 shares of the oil and gas company’s stock worth $18,350,000 after buying an additional 161,278 shares during the period. Finally, Royce & Associates LP grew its position in shares of Core Laboratories by 9.0% in the 3rd quarter. Royce & Associates LP now owns 1,021,121 shares of the oil and gas company’s stock valued at $18,921,000 after buying an additional 84,022 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

Core Laboratories Trading Down 4.9 %

CLB opened at $18.21 on Thursday. The company has a market cap of $854.96 million, a P/E ratio of 28.02, a PEG ratio of 1.36 and a beta of 2.35. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $19.65 and its 200-day moving average is $19.69. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The firm had revenue of $134.40 million for the quarter, compared to analysts’ expectations of $134.16 million. During the same quarter in the previous year, the firm posted $0.22 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. Equities research analysts predict that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 4th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, November 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. Core Laboratories’s dividend payout ratio (DPR) is presently 6.15%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup decreased their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.00.

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.