Core Laboratories (NYSE:CLB) Trading Up 4% - Here's What Happened

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

Wall Street Analysts Forecast Growth

CLB has been the topic of a number of recent research reports. Wall Street Zen lowered Core Laboratories from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Citigroup dropped their price target 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. Finally, Stifel Nicolaus cut their price objective 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. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company's stock. According to MarketBeat.com, Core Laboratories presently has an average rating of "Hold" and a consensus price target of $15.00.

Core Laboratories Trading Up 5.0%

The firm has a 50 day moving average of $11.74 and a 200 day moving average of $15.12. The firm has a market cap of $596.59 million, a PE ratio of 19.26, a P/E/G ratio of 0.99 and a beta of 1.40. 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 posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The business had revenue of $123.59 million during the quarter, compared to analysts' expectations of $125.09 million. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. Core Laboratories's revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 EPS. Equities analysts anticipate that Core Laboratories Inc. will post 0.96 earnings per share for the current year.

Core Laboratories Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, May 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.31%. Core Laboratories's dividend payout ratio is currently 6.78%.

Hedge Funds Weigh In On Core Laboratories

Hedge funds have recently made changes to their positions in the business. Isthmus Partners LLC increased its position in Core Laboratories by 5.6% during 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 during the period. Ridgewood Investments LLC boosted its stake in shares of Core Laboratories by 2.7% during the 1st 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Core Laboratories by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,723 shares of the oil and gas company's stock worth $463,000 after buying an additional 960 shares in the last quarter. Mackenzie Financial Corp boosted its position in Core Laboratories by 5.0% during the 1st quarter. Mackenzie Financial Corp now owns 24,556 shares of the oil and gas company's stock valued at $368,000 after acquiring an additional 1,170 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position 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 valued at $35,000 after acquiring an additional 1,293 shares in the last quarter. 97.81% of the stock is 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.

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