Core Laboratories (NYSE:CLB) Stock Price Down 6% - Here's What Happened

Key Points

• Core Laboratories Inc. shares fell by 6% in mid-day trading, with the stock last priced at $11.36, down from a previous close of $12.08.
• Analysts have mixed views on the company, with target price changes and ratings ranging from "hold" to "sell," leading to a consensus price target of $12.50.
• Despite the stock's recent decline, Core Laboratories posted quarterly earnings that slightly exceeded expectations, reporting $0.19 EPS against an anticipated $0.18 EPS, although revenues saw a minor decline year-over-year.

Core Laboratories Inc. (NYSE:CLB - Get Free Report) shares dropped 6% during mid-day trading on Thursday . The company traded as low as $11.49 and last traded at $11.36. Approximately 111,593 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 465,965 shares. The stock had previously closed at $12.08.

Wall Street Analysts Forecast Growth

CLB has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on shares of Core Laboratories from $13.00 to $12.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. Weiss Ratings restated a "sell (d+)" rating on shares of Core Laboratories in a research report on Wednesday. Zacks Research upgraded shares of Core Laboratories from a "strong sell" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Wall Street Zen raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $12.50.

Core Laboratories Stock Down 9.3%

The business's 50-day moving average price is $11.60 and its 200-day moving average price is $11.94. The company has a quick ratio of 1.70, a current ratio of 2.27 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $513.91 million, a PE ratio of 17.68, a price-to-earnings-growth ratio of 3.65 and a beta of 1.38.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.01. Core Laboratories had a net margin of 5.73% and a return on equity of 14.15%. The business had revenue of $130.16 million during the quarter, compared to analyst estimates of $129.19 million. During the same period in the prior year, the firm earned $0.22 earnings per share. The firm's revenue was down .3% compared to the same quarter last year. Core Laboratories has set its Q3 2025 guidance at 0.180-0.220 EPS. As a group, equities research analysts predict that Core Laboratories Inc. will post 0.96 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 4th were issued a $0.01 dividend. The ex-dividend date was Monday, August 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. Core Laboratories's dividend payout ratio is currently 6.45%.

Hedge Funds Weigh In On Core Laboratories

A number of hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC grew its holdings in Core Laboratories by 2.7% during the first quarter. Ridgewood Investments LLC now owns 33,486 shares of the oil and gas company's stock valued at $502,000 after purchasing an additional 874 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Core Laboratories by 6.2% during the second quarter. The Manufacturers Life Insurance Company now owns 17,932 shares of the oil and gas company's stock valued at $207,000 after purchasing an additional 1,040 shares during the last quarter. Mackenzie Financial Corp grew its holdings in Core Laboratories by 5.0% during the first quarter. Mackenzie Financial Corp now owns 24,556 shares of the oil and gas company's stock valued at $368,000 after purchasing an additional 1,170 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Core Laboratories by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,893 shares of the oil and gas company's stock valued at $418,000 after purchasing an additional 1,170 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in Core Laboratories by 92.5% during the first quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 1,387 shares during the last quarter. Institutional investors and hedge funds 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.

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