Core Laboratories (NYSE:CLB) Shares Down 3.6% - What's Next?

Shares of Core Laboratories Inc. (NYSE:CLB - Get Free Report) fell 3.6% on Tuesday . The stock traded as low as $17.65 and last traded at $17.96. 54,653 shares traded hands during trading, a decline of 87% from the average session volume of 430,742 shares. The stock had previously closed at $18.63.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CLB. Bank of America decreased their price target on shares of Core Laboratories from $16.00 to $15.00 and set an "underperform" rating for the company in a report on Monday, July 15th. Stifel Nicolaus increased their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a "hold" rating in a research report on Friday, July 26th. StockNews.com downgraded Core Laboratories from a "hold" rating to a "sell" rating in a research note on Tuesday, September 17th. Finally, Piper Sandler reduced their price target on shares of Core Laboratories from $18.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, July 15th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $18.00.

Core Laboratories Stock Performance

The company's 50 day simple moving average is $18.63 and its 200 day simple moving average is $18.97. The stock has a market cap of $809.03 million, a price-to-earnings ratio of 19.60, a PEG ratio of 1.08 and a beta of 2.36. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39.

Core Laboratories (NYSE:CLB - Get Free Report) last released its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.01. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The firm had revenue of $130.58 million during the quarter, compared to the consensus estimate of $132.85 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Core Laboratories Inc. will post 0.8 earnings per share for the current year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 5th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date was Monday, August 5th. Core Laboratories's dividend payout ratio (DPR) is presently 4.55%.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds have recently made changes to their positions in the company. Disciplined Growth Investors Inc. MN grew its holdings in shares of Core Laboratories by 446.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company's stock valued at $90,508,000 after buying an additional 3,644,963 shares in the last quarter. Ariel Investments LLC increased its holdings in shares of Core Laboratories by 20.4% in the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company's stock valued at $184,902,000 after purchasing an additional 1,837,258 shares during the period. Earnest Partners LLC lifted its position in Core Laboratories by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company's stock worth $66,682,000 after buying an additional 195,756 shares in the last quarter. Gendell Jeffrey L boosted its position in Core Laboratories by 101.7% during the first quarter. Gendell Jeffrey L now owns 326,890 shares of the oil and gas company's stock valued at $5,583,000 after purchasing an additional 164,797 shares during the last quarter. Finally, Wintrust Investments LLC grew its stake in shares of Core Laboratories by 52.7% in the 1st quarter. Wintrust Investments LLC now owns 420,411 shares of the oil and gas company's stock valued at $7,181,000 after buying an additional 145,161 shares in the last quarter. Hedge funds and other 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.