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Core Laboratories (NYSE:CLB) Shares Gap Up After Strong Earnings

Core Laboratories logo with Energy background

Core Laboratories Inc. (NYSE:CLB - Get Free Report)'s share price gapped up prior to trading on Thursday after the company announced better than expected quarterly earnings. The stock had previously closed at $12.62, but opened at $13.24. Core Laboratories shares last traded at $13.59, with a volume of 216,075 shares traded.

The oil and gas company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to analyst estimates of $129.19 million. Core Laboratories had a net margin of 5.41% and a return on equity of 15.06%. The firm's revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.22 EPS.

Wall Street Analyst Weigh In

CLB has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Core Laboratories from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Stifel Nicolaus decreased their price objective on shares of Core Laboratories from $13.00 to $12.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Finally, Citigroup cut their price objective on shares of Core Laboratories from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th.

View Our Latest Stock Report on CLB

Institutional Investors Weigh In On Core Laboratories

Several institutional investors and hedge funds have recently modified their holdings of the stock. AlphaQuest LLC increased its stake in Core Laboratories by 265,800.0% during the 1st quarter. AlphaQuest LLC now owns 2,659 shares of the oil and gas company's stock valued at $40,000 after purchasing an additional 2,658 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Core Laboratories by 92.5% during the 1st quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company's stock valued at $43,000 after acquiring an additional 1,387 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Core Laboratories by 843.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company's stock valued at $57,000 after acquiring an additional 2,936 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Core Laboratories during the 4th quarter valued at about $123,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Core Laboratories during the 4th quarter valued at about $149,000. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Stock Performance

The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.64 and a current ratio of 2.21. The stock has a market cap of $631.98 million, a PE ratio of 22.89, a P/E/G ratio of 3.62 and a beta of 1.41. The business's fifty day moving average price is $11.80 and its 200-day moving average price is $13.99.

Core Laboratories Company Profile

(Get Free Report)

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.

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