Core Laboratories NV (NYSE:CLB) announced its earnings results on Wednesday. The company reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by $0.01. Core Laboratories NV had a net margin of 11.81% and a return on equity of 344.55%. The firm had revenue of $143.50 million for the quarter, compared to analysts’ expectations of $155.72 million. During the same quarter last year, the business earned $0.83 earnings per share. The business’s revenue was down 27.3% compared to the same quarter last year.
Core Laboratories NV (NYSE:CLB) traded up 3.28% on Wednesday, hitting $115.10. The stock had a trading volume of 592,556 shares. The company’s 50 day moving average price is $110.34 and its 200-day moving average price is $117.55. The company has a market cap of $5.08 billion, a price-to-earnings ratio of 61.06 and a beta of 1.45. Core Laboratories NV has a 12-month low of $84.50 and a 12-month high of $135.49.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 22nd. Stockholders of record on Friday, October 21st will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.91%. The ex-dividend date is Wednesday, October 19th. Core Laboratories NV’s payout ratio is currently 117.65%.
Several brokerages have recently issued reports on CLB. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Core Laboratories NV in a research note on Thursday, June 30th. DA Davidson began coverage on Core Laboratories NV in a research note on Wednesday, October 5th. They issued a “buy” rating and a $136.00 price objective for the company. Zacks Investment Research cut Core Laboratories NV from a “buy” rating to a “hold” rating in a research note on Monday, September 26th. Citigroup Inc. decreased their price objective on Core Laboratories NV from $123.00 to $118.00 and set a “neutral” rating for the company in a research note on Monday, July 25th. Finally, Loop Capital began coverage on Core Laboratories NV in a research note on Friday, September 30th. They issued a “hold” rating and a $120.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $121.61.
Several large investors have recently modified their holdings of CLB. Pinkerton Retirement Specialists LLC acquired a new position in shares of Core Laboratories NV during the second quarter worth approximately $127,000. Fifth Third Bancorp increased its position in shares of Core Laboratories NV by 15.3% in the second quarter. Fifth Third Bancorp now owns 1,166 shares of the company’s stock worth $144,000 after buying an additional 155 shares in the last quarter. AXA increased its position in shares of Core Laboratories NV by 94.2% in the second quarter. AXA now owns 1,400 shares of the company’s stock worth $173,000 after buying an additional 679 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Core Laboratories NV by 78.9% in the second quarter. Loomis Sayles & Co. L P now owns 1,463 shares of the company’s stock worth $182,000 after buying an additional 645 shares in the last quarter. Finally, Johnson Investment Counsel Inc. acquired a new position in shares of Core Laboratories NV during the second quarter worth approximately $207,000.
Core Laboratories NV Company Profile
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields.
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