Core Laboratories (NYSE:CLB) Trading Down 4.9% - Should You Sell?

Core Laboratories Inc. (NYSE:CLB - Get Free Report) shares were down 4.9% during mid-day trading on Wednesday . The company traded as low as $13.09 and last traded at $13.14. Approximately 226,924 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 319,553 shares. The stock had previously closed at $13.81.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their price objective on Core Laboratories from $14.00 to $15.00 and gave the company a "sell" rating in a research note on Thursday, February 20th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, Core Laboratories presently has an average rating of "Hold" and a consensus target price of $17.25.

Core Laboratories Stock Performance

The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.71. The stock has a 50 day simple moving average of $17.38 and a two-hundred day simple moving average of $18.44. The company has a market cap of $697.68 million, a PE ratio of 22.57, a PEG ratio of 0.99 and a beta of 2.38.

Core Laboratories (NYSE:CLB - Get Free Report) last issued its quarterly earnings data 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 return on equity of 16.24% and a net margin of 5.99%. Equities analysts predict that Core Laboratories Inc. will post 0.96 EPS for the current year.

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Core Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Monday, February 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Monday, February 10th. Core Laboratories's dividend payout ratio (DPR) is presently 6.06%.

Institutional Investors Weigh In On Core Laboratories

Several large investors have recently modified their holdings of CLB. Assetmark Inc. purchased a new stake in shares of Core Laboratories during the fourth quarter worth approximately $26,000. Smartleaf Asset Management LLC raised its stake in shares of 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 purchasing an additional 1,293 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of 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 purchasing an additional 2,339 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of 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 purchasing an additional 2,936 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Core Laboratories during the fourth quarter worth approximately $123,000. Hedge funds and other institutional investors own 97.81% of the company's stock.

About Core Laboratories

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.