Core Laboratories Inc. (NYSE:CLB) Sees Significant Decline in Short Interest

Core Laboratories Inc. (NYSE:CLB) saw a large drop in short interest in the month of December. As of December 31st, there was short interest totalling 6,290,000 shares, a drop of 6.5% from the December 15th total of 6,730,000 shares. Based on an average trading volume of 309,800 shares, the short-interest ratio is currently 20.3 days. Approximately 13.5% of the shares of the company are sold short.

Core Laboratories Price Performance

Shares of CLB traded up $0.62 during trading hours on Monday, reaching $19.73. The company had a trading volume of 265,941 shares, compared to its average volume of 292,069. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $25.13. The firm has a 50 day simple moving average of $19.13 and a 200-day simple moving average of $19.56. The company has a market capitalization of $926.51 million, a price-to-earnings ratio of 30.36, a PEG ratio of 0.98 and a beta of 2.39.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, beating 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 company had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. During the same period last year, the company posted $0.22 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. Research analysts expect that Core Laboratories will post 0.8 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 4th were issued a dividend of $0.01 per share. The ex-dividend date was Monday, November 4th. This represents a $0.04 annualized dividend and a yield of 0.20%. Core Laboratories’s dividend payout ratio is presently 6.15%.

Analyst Ratings Changes

CLB has been the topic of a number of recent analyst reports. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup dropped their target price 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. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $17.00.

Institutional Trading of Core Laboratories

Several large investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its stake in shares of Core Laboratories by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock worth $366,000 after buying an additional 579 shares during the last quarter. Confluence Investment Management LLC increased its holdings in Core Laboratories by 0.4% during the 4th quarter. Confluence Investment Management LLC now owns 136,359 shares of the oil and gas company’s stock valued at $2,360,000 after acquiring an additional 599 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Core Laboratories by 11.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 600 shares during the last quarter. Tidal Investments LLC lifted its holdings in shares of Core Laboratories by 1.7% in the third quarter. Tidal Investments LLC now owns 43,862 shares of the oil and gas company’s stock valued at $813,000 after purchasing an additional 716 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Core Laboratories by 1.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 54,310 shares of the oil and gas company’s stock valued at $1,102,000 after purchasing an additional 758 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company’s stock.

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.