Core Laboratories (NYSE:CLB) Shares Up 4% - Here's Why

Core Laboratories Inc. (NYSE:CLB - Get Free Report) was up 4% during trading on Tuesday . The stock traded as high as $12.39 and last traded at $12.60. Approximately 9,339 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 399,898 shares. The stock had previously closed at $12.12.

Analysts Set New Price Targets

Several research analysts recently commented on CLB shares. Wall Street Zen lowered shares of Core Laboratories from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Stifel Nicolaus cut their price target on shares of Core Laboratories from $19.00 to $15.00 and set a "hold" rating on the stock in a report on Tuesday, April 15th. Finally, Citigroup dropped 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 note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $15.00.

Core Laboratories Stock Down 1.2%

The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average price of $11.75 and a two-hundred day moving average price of $14.97. The company has a market capitalization of $582.39 million, a price-to-earnings ratio of 21.06, a P/E/G ratio of 3.87 and a beta of 1.40.

Core Laboratories (NYSE:CLB - Get Free Report) last issued its quarterly earnings data 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 5.41% and a return on equity of 15.06%. The business had revenue of $123.59 million for the quarter, compared to analyst estimates of $125.09 million. During the same quarter last year, the business earned $0.19 EPS. Core Laboratories's revenue for the quarter was down 4.7% compared to the same quarter last year. As a group, sell-side analysts expect that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 5th were issued a $0.01 dividend. The ex-dividend date was Monday, May 5th. This represents a $0.04 annualized dividend and a yield of 0.32%. Core Laboratories's dividend payout ratio is presently 6.78%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Isthmus Partners LLC raised its stake in shares of Core Laboratories by 5.6% in the 4th quarter. Isthmus Partners LLC now owns 11,219 shares of the oil and gas company's stock valued at $194,000 after purchasing an additional 599 shares in the last quarter. Ridgewood Investments LLC increased its holdings in Core Laboratories by 2.7% in the first quarter. Ridgewood Investments LLC now owns 33,486 shares of the oil and gas company's stock valued at $502,000 after buying an additional 874 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Core Laboratories by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,723 shares of the oil and gas company's stock valued at $463,000 after buying an additional 960 shares in the last quarter. Mackenzie Financial Corp raised its stake 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 buying an additional 1,170 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Core Laboratories by 173.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company's stock worth $35,000 after buying an additional 1,293 shares during the last quarter. 97.81% of the stock is 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.