Core Laboratories (NYSE:CLB) Hits New 52-Week Low at $36.61

Core Laboratories (NYSE:CLB) hit a new 52-week low during trading on Friday . The company traded as low as $36.61 and last traded at $36.81, with a volume of 478825 shares trading hands. The stock had previously closed at $38.15.

CLB has been the topic of a number of recent research reports. Morgan Stanley lowered their target price on Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Zacks Investment Research downgraded Core Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, April 26th. ValuEngine downgraded Core Laboratories from a “sell” rating to a “strong sell” rating in a research note on Monday, July 29th. Stifel Nicolaus set a $75.00 target price on Core Laboratories and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Bank of America upgraded Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. Core Laboratories presently has a consensus rating of “Hold” and an average price target of $75.67.

The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 1.83. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 16.14, a PEG ratio of 3.41 and a beta of 1.91. The firm has a 50-day moving average of $47.46 and a two-hundred day moving average of $58.05.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. The business had revenue of $169.04 million during the quarter, compared to analysts’ expectations of $173.46 million. During the same quarter in the previous year, the firm earned $0.59 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Core Laboratories will post 1.75 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 22nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, July 19th. This represents a $2.20 annualized dividend and a dividend yield of 5.98%. Core Laboratories’s dividend payout ratio is presently 96.49%.

In other Core Laboratories news, Director Gregory Barry Barnett acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was acquired at an average price of $40.00 per share, with a total value of $40,000.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at $440,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. Griffin Asset Management Inc. acquired a new position in shares of Core Laboratories in the 2nd quarter worth approximately $31,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Core Laboratories by 0.7% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,837 shares of the oil and gas company’s stock worth $81,811,000 after buying an additional 10,877 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of Core Laboratories by 5.4% in the 2nd quarter. Royal Bank of Canada now owns 59,035 shares of the oil and gas company’s stock worth $3,086,000 after buying an additional 3,013 shares in the last quarter. Steadfast Capital Management LP acquired a new position in shares of Core Laboratories in the 2nd quarter worth approximately $6,799,000. Finally, Verition Fund Management LLC acquired a new position in shares of Core Laboratories in the 2nd quarter worth approximately $1,054,000.

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. 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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