Core Laboratories (NYSE:CLB) Reaches New 52-Week High – Here’s Why

Core Laboratories Inc. (NYSE:CLB)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as $20.36 and last traded at $20.0010, with a volume of 12153 shares changing hands. The stock had previously closed at $19.63.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Core Laboratories in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.50.

Core Laboratories Stock Up 1.6%

The company has a current ratio of 2.37, a quick ratio of 1.76 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $928.64 million, a PE ratio of 29.78, a PEG ratio of 17.04 and a beta of 1.03. The business has a fifty day moving average of $16.79 and a 200 day moving average of $13.94.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 22nd. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The business had revenue of $134.52 million for the quarter, compared to analysts’ expectations of $130.92 million. Core Laboratories had a net margin of 6.21% and a return on equity of 12.85%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.25 earnings per share. Equities research analysts anticipate that Core Laboratories Inc. will post 0.96 EPS for the current year.

Institutional Trading of Core Laboratories

Hedge funds have recently modified their holdings of the stock. Quarry LP raised its position in Core Laboratories by 118.1% in the 3rd quarter. Quarry LP now owns 2,953 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 1,599 shares in the last quarter. GAMMA Investing LLC grew its holdings in Core Laboratories by 73.3% during the 4th quarter. GAMMA Investing LLC now owns 5,157 shares of the oil and gas company’s stock worth $83,000 after acquiring an additional 2,181 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Core Laboratories by 400.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,333 shares of the oil and gas company’s stock valued at $84,000 after purchasing an additional 5,869 shares during the last quarter. Assetmark Inc. lifted its position in shares of Core Laboratories by 160.8% during the 2nd quarter. Assetmark Inc. now owns 7,530 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 4,643 shares during the last quarter. Finally, Vestcor Inc acquired a new position in shares of Core Laboratories during the third quarter worth $101,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.

Core Laboratories Company Profile

Core Laboratories N.V. is a global provider of proprietary and patented reservoir description and production enhancement services to the oil and gas industry. The company applies specialized expertise in core and fluid analysis, advanced petrophysical interpretation, and reservoir engineering to optimize hydrocarbon recovery. By integrating laboratory testing with field services and digital analytics, Core Laboratories delivers insights that help operators maximize production and extend the life of their assets.

The company’s portfolio spans two primary service lines: reservoir description and production enhancement.