Core Laboratories (CLB) Reaches New 12-Month Low at $87.34

Shares of Core Laboratories (NYSE:CLB) hit a new 52-week low on Thursday . The company traded as low as $87.34 and last traded at $88.56, with a volume of 934093 shares trading hands. The stock had previously closed at $91.98.

CLB has been the topic of a number of analyst reports. ValuEngine upgraded Core Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Edward Jones initiated coverage on Core Laboratories in a research report on Tuesday, September 4th. They issued a “buy” rating on the stock. Credit Suisse Group reduced their price objective on Core Laboratories from $122.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday. TheStreet lowered Core Laboratories from a “b-” rating to a “c+” rating in a research note on Thursday. Finally, Morgan Stanley initiated coverage on Core Laboratories in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $125.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $114.36.

The company has a debt-to-equity ratio of 1.83, a current ratio of 2.31 and a quick ratio of 1.85. The company has a market capitalization of $3.91 billion, a P/E ratio of 43.53, a price-to-earnings-growth ratio of 2.35 and a beta of 1.46.



Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $182.15 million for the quarter, compared to analyst estimates of $178.11 million. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The business’s revenue was up 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.46 earnings per share. On average, equities research analysts anticipate that Core Laboratories will post 2.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, October 19th will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, October 18th. Core Laboratories’s dividend payout ratio is currently 110.00%.

A number of institutional investors have recently bought and sold shares of the business. Signaturefd LLC lifted its stake in shares of Core Laboratories by 403.7% during the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 650 shares during the period. Cornerstone Wealth Management LLC acquired a new position in shares of Core Laboratories during the third quarter valued at $122,000. WMS Partners LLC acquired a new position in shares of Core Laboratories during the second quarter valued at $202,000. World Asset Management Inc acquired a new position in shares of Core Laboratories during the second quarter valued at $205,000. Finally, Welch & Forbes LLC acquired a new position in shares of Core Laboratories during the third quarter valued at $210,000.

About Core Laboratories (NYSE:CLB)

Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

Further Reading: Price to Earnings Ratio (PE) Basics

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