Core Laboratories (NYSE:CLB) Hits New 52-Week Low - Should You Sell?

Core Laboratories Inc. (NYSE:CLB - Get Free Report) shares hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $11.04 and last traded at $11.44, with a volume of 897991 shares changing hands. The stock had previously closed at $11.72.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Core Laboratories from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Citigroup raised Core Laboratories from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $15.00 to $16.00 in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus reduced their target price on Core Laboratories from $19.00 to $15.00 and set a "hold" rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, Core Laboratories presently has a consensus rating of "Hold" and a consensus target price of $15.75.

Core Laboratories Price Performance

The company has a 50 day simple moving average of $13.52 and a 200 day simple moving average of $16.93. The company has a market capitalization of $577.83 million, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 0.99 and a beta of 1.99. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.49.

Core Laboratories (NYSE:CLB - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. The business had revenue of $123.59 million for the quarter, compared to analyst estimates of $125.09 million. During the same period last year, the firm earned $0.19 earnings per share. The company's quarterly revenue was down 4.7% on a year-over-year basis. As a group, research analysts predict that Core Laboratories Inc. will post 0.96 EPS for the current year.

Core Laboratories Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.32%. The ex-dividend date of this dividend is Monday, May 5th. Core Laboratories's dividend payout ratio (DPR) is 6.78%.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds and other institutional investors have recently bought and sold shares of CLB. Raymond James Financial Inc. acquired a new position in Core Laboratories during the 4th quarter worth $6,760,000. Rice Hall James & Associates LLC bought a new position in Core Laboratories during the 4th quarter worth approximately $1,960,000. Norges Bank acquired a new position in shares of Core Laboratories in the 4th quarter worth approximately $1,910,000. Raiffeisen Bank International AG acquired a new position in shares of Core Laboratories in the 4th quarter worth approximately $1,706,000. Finally, Northern Trust Corp raised its position in shares of Core Laboratories by 15.6% during the 4th quarter. Northern Trust Corp now owns 577,752 shares of the oil and gas company's stock valued at $10,001,000 after acquiring an additional 78,173 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.