Core Laboratories (NYSE:CLB) Shares Down 3.6% – What’s Next?

Core Laboratories Inc. (NYSE:CLB)’s share price fell 3.6% during trading on Tuesday . The company traded as low as $17.65 and last traded at $17.96. 54,653 shares were traded during mid-day trading, a decline of 87% from the average session volume of 430,742 shares. The stock had previously closed at $18.63.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus upped their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Bank of America decreased their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research note on Monday, July 15th. StockNews.com cut Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Piper Sandler decreased their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $18.00.

Core Laboratories Price Performance

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 company’s 50 day moving average price is $18.63 and its 200 day moving average price is $18.97. The company has a market cap of $807.15 million, a price-to-earnings ratio of 19.68, a PEG ratio of 1.08 and a beta of 2.36.

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

Core Laboratories Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Shareholders of record on Monday, August 5th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date was Monday, August 5th. Core Laboratories’s payout ratio is 4.55%.

Hedge Funds Weigh In On Core Laboratories

Large investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in Core Laboratories during the second quarter worth about $36,000. nVerses Capital LLC purchased a new stake in shares of Core Laboratories in the 3rd quarter worth about $48,000. CWM LLC boosted its stake in shares of Core Laboratories by 1,178.6% during the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock worth $61,000 after purchasing an additional 3,300 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Core Laboratories by 31.6% in the first quarter. GAMMA Investing LLC now owns 3,570 shares of the oil and gas company’s stock valued at $61,000 after buying an additional 857 shares during the last quarter. Finally, Platinum Investment Management Ltd. lifted its stake in shares of Core Laboratories by 13.9% during the first quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 774 shares during the period. 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.