Core Laboratories (NYSE:CLB) Stock Rating Upgraded by Wall Street Zen

Key Points

• Core Laboratories has been upgraded to a "hold" rating from a "sell" by Wall Street Zen, signaling a change in analyst outlook for the company's stock.
• Other research firms, including Stifel Nicolaus and Citigroup, have also lowered their target prices for Core Laboratories' shares, indicating a cautious sentiment in the market.
• Despite a slight year-over-year revenue decline, Core Laboratories reported an increase in earnings per share, beating analyst expectations for the last quarter.

Wall Street Zen upgraded shares of Core Laboratories (NYSE:CLB - Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.

CLB has been the subject of a number of other reports. Citigroup cut their price target on Core Laboratories from $16.00 to $13.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Stifel Nicolaus decreased their target price on Core Laboratories from $13.00 to $12.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th.

Core Laboratories Stock Down 2.9%

Shares of NYSE:CLB traded down $0.35 during trading hours on Friday, hitting $11.60. The company's stock had a trading volume of 456,855 shares, compared to its average volume of 474,245. The company has a market capitalization of $543.97 million, a price-to-earnings ratio of 18.71, a P/E/G ratio of 3.63 and a beta of 1.41. Core Laboratories has a 52 week low of $10.14 and a 52 week high of $25.13. The firm's fifty day moving average price is $11.84 and its 200 day moving average price is $13.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.27 and a quick ratio of 1.70.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its quarterly earnings data 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 quarter last year, the firm posted $0.22 earnings per share. The business's revenue for the quarter was down .3% compared to the same quarter last year. As a group, research analysts expect that Core Laboratories will post 0.96 EPS for the current year.

Core Laboratories Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 4th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Monday, August 4th. Core Laboratories's dividend payout ratio is 6.45%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Ariel Investments LLC raised its holdings in shares of Core Laboratories by 7.4% in the 1st quarter. Ariel Investments LLC now owns 10,342,025 shares of the oil and gas company's stock valued at $155,027,000 after purchasing an additional 709,455 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in Core Laboratories during the first quarter worth approximately $6,008,000. Raymond James Financial Inc. acquired a new stake in Core Laboratories in the fourth quarter valued at $6,760,000. Fred Alger Management LLC raised its holdings in shares of Core Laboratories by 32.4% during the first quarter. Fred Alger Management LLC now owns 736,853 shares of the oil and gas company's stock worth $11,045,000 after purchasing an additional 180,344 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Core Laboratories in the 1st quarter worth about $2,573,000. Institutional investors 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.