Core Laboratories (NYSE:CLB) shares were down 11.6% during trading on Thursday . The stock traded as low as $64.45 and last traded at $64.46. Approximately 1,653,253 shares changed hands during mid-day trading, an increase of 187% from the average daily volume of 575,623 shares. The stock had previously closed at $72.95.
Several research analysts have commented on CLB shares. Piper Jaffray Companies set a $70.00 price target on shares of Core Laboratories and gave the company a “hold” rating in a report on Wednesday, December 26th. Zacks Investment Research downgraded shares of Core Laboratories from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 2nd. Citigroup cut their price target on shares of Core Laboratories from $76.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, January 4th. UBS Group set a $72.00 price target on shares of Core Laboratories and gave the company a “hold” rating in a report on Saturday, February 2nd. Finally, Tudor Pickering raised shares of Core Laboratories from a “hold” rating to a “buy” rating in a report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $89.64.
The company has a current ratio of 2.25, a quick ratio of 1.81 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $3.31 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 2.61 and a beta of 1.86.
Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Core Laboratories had a net margin of 11.35% and a return on equity of 63.86%. The company had revenue of $169.19 million during the quarter, compared to the consensus estimate of $166.79 million. During the same period in the previous year, the firm posted $0.57 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, equities analysts predict that Core Laboratories will post 2.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 21st. Stockholders of record on Friday, April 26th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.41%. The ex-dividend date of this dividend is Thursday, April 25th.
In other news, CAO Kevin Daniels sold 428 shares of Core Laboratories stock in a transaction on Monday, March 11th. The shares were sold at an average price of $66.25, for a total transaction of $28,355.00. Following the completion of the sale, the chief accounting officer now directly owns 352 shares of the company’s stock, valued at approximately $23,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Retirement Systems of Alabama lifted its stake in Core Laboratories by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 57,324 shares of the oil and gas company’s stock worth $3,420,000 after purchasing an additional 188 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Core Laboratories by 1.7% in the first quarter. Louisiana State Employees Retirement System now owns 11,900 shares of the oil and gas company’s stock worth $820,000 after purchasing an additional 200 shares during the last quarter. American International Group Inc. lifted its stake in Core Laboratories by 0.3% in the fourth quarter. American International Group Inc. now owns 89,318 shares of the oil and gas company’s stock worth $5,329,000 after purchasing an additional 243 shares during the last quarter. Clear Harbor Asset Management LLC lifted its stake in Core Laboratories by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 43,191 shares of the oil and gas company’s stock worth $2,579,000 after purchasing an additional 257 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Core Laboratories by 20.4% in the fourth quarter. Captrust Financial Advisors now owns 1,856 shares of the oil and gas company’s stock worth $111,000 after purchasing an additional 314 shares during the last quarter.
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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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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