Core Laboratories (NYSE:CLB) Given New $16.00 Price Target at Bank of America

Core Laboratories (NYSE:CLB) had its price target cut by Bank of America from $17.00 to $16.00 in a report issued on Monday, Benzinga reports. They currently have an underperform rating on the oil and gas company’s stock.

Several other brokerages also recently weighed in on CLB. Stifel Nicolaus reduced their target price on Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a research note on Monday, February 5th. StockNews.com raised Core Laboratories from a sell rating to a hold rating in a research note on Saturday, January 20th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $18.50.

Core Laboratories Trading Down 0.6 %

Shares of CLB stock opened at $17.40 on Monday. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. The company has a market cap of $815.36 million, a price-to-earnings ratio of 20.23, a PEG ratio of 0.55 and a beta of 2.40. The stock has a 50 day simple moving average of $15.92 and a 200-day simple moving average of $17.93. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $128.21 million for the quarter, compared to analyst estimates of $127.80 million. Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. During the same period in the previous year, the company earned $0.23 earnings per share. On average, equities research analysts expect that Core Laboratories will post 0.81 EPS for the current fiscal year.

Core Laboratories Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend was Friday, February 9th. Core Laboratories’s payout ratio is currently 4.65%.

Institutional Trading of Core Laboratories

Several large investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. grew its holdings in Core Laboratories by 13.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 3,484 shares of the oil and gas company’s stock valued at $81,000 after buying an additional 410 shares in the last quarter. State of Wyoming grew its holdings in Core Laboratories by 43.1% in the 2nd quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 436 shares in the last quarter. California State Teachers Retirement System grew its holdings in Core Laboratories by 1.2% in 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 in the last quarter. Great West Life Assurance Co. Can grew its holdings in Core Laboratories by 1.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 57,142 shares of the oil and gas company’s stock valued at $1,260,000 after buying an additional 626 shares in the last quarter. Finally, Morningstar Investment Services LLC grew its holdings in Core Laboratories by 6.0% in the 3rd quarter. Morningstar Investment Services LLC now owns 13,570 shares of the oil and gas company’s stock valued at $333,000 after buying an additional 764 shares in the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

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.