Core Laboratories (NYSE:CLB) Sets New 52-Week Low at $19.78

Core Laboratories (NYSE:CLB – Get Rating) reached a new 52-week low on Wednesday . The company traded as low as $19.78 and last traded at $19.90, with a volume of 679 shares changing hands. The stock had previously closed at $20.92.

A number of equities research analysts have weighed in on CLB shares. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, May 11th. Piper Sandler cut shares of Core Laboratories from a “neutral” rating to an “underweight” rating and boosted their price objective for the stock from $19.50 to $21.30 in a research report on Monday, April 18th. Finally, Morgan Stanley upped their target price on shares of Core Laboratories from $30.00 to $35.00 and gave the company an “equal weight” rating in a research report on Monday, April 11th.

The stock has a market capitalization of $864.11 million, a P/E ratio of 88.86 and a beta of 2.71. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.54 and a current ratio of 2.03. The company’s fifty day simple moving average is $26.05 and its two-hundred day simple moving average is $27.02.

Core Laboratories (NYSE:CLB – Get Rating) last announced its earnings results on Wednesday, April 27th. The oil and gas company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $115.30 million for the quarter, compared to analysts’ expectations of $111.63 million. Core Laboratories had a net margin of 2.04% and a return on equity of 18.28%. During the same period last year, the firm earned $0.15 earnings per share. On average, research analysts predict that Core Laboratories will post 0.69 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 31st. Investors of record on Monday, May 9th were given a dividend of $0.01 per share. The ex-dividend date was Friday, May 6th. This represents a $0.04 annualized dividend and a dividend yield of 0.21%. Core Laboratories’s dividend payout ratio is 19.05%.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE increased its stake in Core Laboratories by 19.4% in the first quarter. Bank of America Corp DE now owns 647,204 shares of the oil and gas company’s stock valued at $20,472,000 after purchasing an additional 105,177 shares in the last quarter. Toroso Investments LLC increased its holdings in Core Laboratories by 160.0% during the 1st quarter. Toroso Investments LLC now owns 26,130 shares of the oil and gas company’s stock worth $826,000 after acquiring an additional 16,080 shares during the period. Royal Bank of Canada increased its holdings in shares of Core Laboratories by 5.3% in the 1st quarter. Royal Bank of Canada now owns 37,291 shares of the oil and gas company’s stock worth $1,180,000 after buying an additional 1,891 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Core Laboratories by 34.6% in the 1st quarter. Guggenheim Capital LLC now owns 24,366 shares of the oil and gas company’s stock valued at $771,000 after purchasing an additional 6,259 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Core Laboratories by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company’s stock valued at $1,253,000 after buying an additional 481 shares during the period. 92.56% of the stock is owned by institutional investors and hedge funds.

Core Laboratories Company Profile (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. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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