Core Laboratories (NYSE:CLB) Issues Quarterly Earnings Results, Meets Estimates

Key Points

• Core Laboratories reported quarterly EPS of $0.16, matching analysts’ consensus estimate. The company posted a 10.03% return on equity and a 5.10% net margin.
• Shares rose 1.8% to $10.52 during Wednesday’s trading, while the stock remains well below its 52-week high of $20.36 and has a market capitalization of approximately $482.6 million.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $21.00 price target. CEO Lawrence Bruno also purchased 5,000 shares for approximately $53,900.

Core Laboratories (NYSE:CLB - Get Free Report) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.16, FiscalAI reports. Core Laboratories had a return on equity of 10.03% and a net margin of 5.10%.

Core Laboratories Stock Up 1.8%

Shares of NYSE CLB traded up $0.19 during midday trading on Wednesday, reaching $10.52. 976,970 shares of the company's stock traded hands, compared to its average volume of 592,095. The company has a market cap of $482.57 million, a price-to-earnings ratio of 18.78, a P/E/G ratio of 1.98 and a beta of 1.14. The company has a quick ratio of 1.55, a current ratio of 2.12 and a debt-to-equity ratio of 0.41. The stock's 50 day simple moving average is $11.11 and its 200-day simple moving average is $14.05. Core Laboratories has a one year low of $9.13 and a one year high of $20.36.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Weiss Ratings cut Core Laboratories from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, October 2nd. Johnson Rice raised Core Laboratories from a "hold" rating to a "buy" rating and set a $21.00 price objective on the stock in a research report on Thursday, August 13th. Finally, Wall Street Zen raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $21.00.

Insider Transactions at Core Laboratories

In other Core Laboratories news, CEO Lawrence Bruno purchased 5,000 shares of the company's stock in a transaction dated Friday, July 31st. The shares were acquired at an average price of $10.78 per share, for a total transaction of $53,900.00. Following the completion of the purchase, the chief executive officer owned 262,438 shares of the company's stock, valued at approximately $2,829,081.64. The trade was a 1.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.26% of the company's stock.

Core Laboratories Company Profile

Core Laboratories N.V. NYSE: CLB is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.

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