Core Laboratories (NYSE:CLB) Shares Up 4.6% - Still a Buy?

Key Points

• Core Laboratories (NYSE:CLB) shares rose by 4.6% to reach a last trading price of $12.27, although its trading volume was significantly lower than average.
• Analysts have varied opinions on the stock, with Stifel Nicolaus lowering its price target to $12 and Wall Street Zen upgrading it to a "hold" rating.
• The company recently announced a quarterly dividend of $0.01, set to be paid on August 25th, which reflects an annualized yield of 0.33%.

Core Laboratories Inc. (NYSE:CLB - Get Free Report)'s stock price was up 4.6% during trading on Monday . The company traded as high as $12.19 and last traded at $12.27. Approximately 91,648 shares changed hands during trading, a decline of 80% from the average daily volume of 453,048 shares. The stock had previously closed at $11.73.

Analyst Ratings Changes

A number of equities analysts have recently commented on CLB shares. Citigroup reduced their target price 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. Stifel Nicolaus reduced their target price on shares of Core Laboratories from $13.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th.

Core Laboratories Trading Down 4.4%

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 stock's 50 day moving average price is $11.84 and its 200-day moving average price is $13.71. The stock has a market capitalization of $490.19 million, a P/E ratio of 16.79, a P/E/G ratio of 3.39 and a beta of 1.41.

Core Laboratories (NYSE:CLB - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The oil and gas company reported $0.19 EPS for the quarter, beating the consensus estimate 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 posted $0.22 earnings per share. The company's quarterly revenue was down .3% on a year-over-year basis. As a group, equities research analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 4th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, August 4th. Core Laboratories's payout ratio is currently 6.45%.

Institutional Investors Weigh In On Core Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in CLB. Millennium Management LLC lifted its position in Core Laboratories by 429.0% during the 4th quarter. Millennium Management LLC now owns 65,616 shares of the oil and gas company's stock worth $1,136,000 after acquiring an additional 53,213 shares during the period. Franklin Resources Inc. acquired a new stake in shares of Core Laboratories during the fourth quarter worth about $464,000. Oppenheimer Asset Management Inc. boosted its position in Core Laboratories by 19.8% in the first quarter. Oppenheimer Asset Management Inc. now owns 69,184 shares of the oil and gas company's stock valued at $1,037,000 after buying an additional 11,438 shares during the last quarter. Northern Trust Corp boosted its position in Core Laboratories by 15.6% in the fourth quarter. Northern Trust Corp now owns 577,752 shares of the oil and gas company's stock valued at $10,001,000 after buying an additional 78,173 shares during the last quarter. Finally, Norges Bank acquired a new position in Core Laboratories in the 4th quarter worth approximately $1,910,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.