Stifel Nicolaus Increases Core Laboratories (NYSE:CLB) Price Target to $22.00

Core Laboratories (NYSE:CLB) had its target price raised by Stifel Nicolaus from $18.00 to $22.00 in a research report sent to investors on Friday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the oil and gas company’s stock.

Several other analysts have also issued reports on the stock. Piper Sandler decreased their price target on shares of Core Laboratories from $18.00 to $17.00 and set a neutral rating on the stock in a research report on Monday, July 15th. StockNews.com lowered shares of Core Laboratories from a hold rating to a sell rating in a research report on Wednesday, July 10th. Finally, Bank of America decreased their price target on shares of Core Laboratories from $16.00 to $15.00 and set an underperform rating on the stock in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Core Laboratories has a consensus rating of Hold and a consensus target price of $18.50.

Core Laboratories Stock Performance

Shares of CLB opened at $23.76 on Friday. The company has a market capitalization of $1.11 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.53 and a beta of 2.41. Core Laboratories has a one year low of $13.82 and a one year high of $27.94. 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’s fifty day moving average price is $19.99 and its 200 day moving average price is $17.51.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. The firm had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. As a group, analysts expect that Core Laboratories will post 0.71 earnings per share for the current year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 5th will be given a dividend of $0.01 per share. The ex-dividend date is Monday, August 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.17%. Core Laboratories’s dividend payout ratio (DPR) is currently 4.55%.

Institutional Trading of Core Laboratories

Several institutional investors have recently made changes to their positions in the business. Louisiana State Employees Retirement System boosted its position in shares of Core Laboratories by 2.2% during the 2nd quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the oil and gas company’s stock valued at $479,000 after acquiring an additional 500 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in Core Laboratories by 19.7% during the 1st quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock valued at $63,000 after purchasing an additional 612 shares during the last quarter. Platinum Investment Management Ltd. lifted its holdings in Core Laboratories by 13.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock valued at $108,000 after purchasing an additional 774 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Core Laboratories by 23.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock valued at $90,000 after purchasing an additional 855 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Core Laboratories by 2.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 53,552 shares of the oil and gas company’s stock valued at $915,000 after purchasing an additional 1,129 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.