Core Laboratories (NYSE:CLB) Hits New 52-Week Low - Time to Sell?

Core Laboratories Inc. (NYSE:CLB - Get Free Report) shares reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $14.61 and last traded at $14.94, with a volume of 42279 shares trading hands. The stock had previously closed at $14.91.

Analysts Set New Price Targets

A number of brokerages recently commented on CLB. StockNews.com upgraded Core Laboratories from a "sell" rating to a "hold" rating in a report on Thursday, November 7th. Citigroup upped their price objective on shares of Core Laboratories from $14.00 to $15.00 and gave the stock a "sell" rating in a report on Thursday, February 20th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $17.25.

Core Laboratories Price Performance

The business's 50 day moving average price is $17.54 and its two-hundred day moving average price is $18.53. The stock has a market cap of $647.15 million, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 0.99 and a beta of 2.38. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.49.

Core Laboratories (NYSE:CLB - Get Free Report) last announced its earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. As a group, sell-side analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current fiscal year.

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Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Monday, February 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Monday, February 10th. Core Laboratories's payout ratio is currently 6.06%.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds have recently bought and sold shares of CLB. Assetmark Inc. bought a new stake in Core Laboratories during the fourth quarter worth about $26,000. Smartleaf Asset Management LLC boosted its stake in Core Laboratories by 173.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company's stock worth $35,000 after acquiring an additional 1,293 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Core Laboratories by 2,688.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,426 shares of the oil and gas company's stock worth $42,000 after acquiring an additional 2,339 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in Core Laboratories by 843.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company's stock worth $57,000 after acquiring an additional 2,936 shares in the last quarter. Finally, BNP Paribas Financial Markets bought a new position in shares of Core Laboratories in the fourth quarter worth approximately $123,000. Institutional investors 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.