Core Laboratories (NYSE:CLB) Price Target Cut to $13.00 by Analysts at Citigroup

Core Laboratories (NYSE:CLB) had its price objective trimmed by Citigroup from $16.00 to $13.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas company’s stock.

A number of other research firms also recently commented on CLB. Stifel Nicolaus dropped their target price on shares of Core Laboratories from $19.00 to $15.00 and set a “hold” rating on the stock in a research report on Tuesday, April 15th. StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $15.00.

Core Laboratories Price Performance

Shares of NYSE CLB opened at $12.50 on Tuesday. The stock’s 50-day simple moving average is $13.18 and its 200-day simple moving average is $16.61. The firm has a market capitalization of $586.04 million, a PE ratio of 18.94, a price-to-earnings-growth ratio of 0.99 and a beta of 1.45. Core Laboratories has a fifty-two week low of $10.14 and a fifty-two week high of $25.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.01). Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. The company had revenue of $123.59 million during the quarter, compared to analysts’ expectations of $125.09 million. During the same quarter in the prior year, the company earned $0.19 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, equities research analysts forecast that Core Laboratories will post 0.96 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 27th. Stockholders of record on Monday, May 5th will be issued a $0.01 dividend. The ex-dividend date is Monday, May 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.32%. Core Laboratories’s payout ratio is 6.78%.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its stake in Core Laboratories by 5.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 41,281 shares of the oil and gas company’s stock valued at $765,000 after acquiring an additional 2,267 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Core Laboratories by 2,688.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,426 shares of the oil and gas company’s stock valued at $42,000 after buying an additional 2,339 shares during the period. Boston Trust Walden Corp grew its holdings in Core Laboratories by 2.7% during the fourth quarter. Boston Trust Walden Corp now owns 617,336 shares of the oil and gas company’s stock worth $10,686,000 after acquiring an additional 16,503 shares during the period. Van ECK Associates Corp raised its position in Core Laboratories by 6.3% in the fourth quarter. Van ECK Associates Corp now owns 443,621 shares of the oil and gas company’s stock worth $7,679,000 after acquiring an additional 26,237 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Core Laboratories by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 229,096 shares of the oil and gas company’s stock worth $3,966,000 after purchasing an additional 6,827 shares in 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.