Core Laboratories Inc. (NYSE:CLB - Free Report) - Analysts at Zacks Research cut their Q1 2024 earnings per share (EPS) estimates for Core Laboratories in a research note issued on Thursday, April 18th. Zacks Research analyst T. Saha now forecasts that the oil and gas company will post earnings of $0.10 per share for the quarter, down from their prior forecast of $0.12. The consensus estimate for Core Laboratories' current full-year earnings is $0.81 per share. Zacks Research also issued estimates for Core Laboratories' FY2024 earnings at $0.76 EPS and Q1 2025 earnings at $0.20 EPS.
CLB has been the topic of a number of other reports. Bank of America cut their price target on Core Laboratories from $17.00 to $16.00 and set an "underperform" rating on the stock in a report on Monday. Stifel Nicolaus lowered their target price on Core Laboratories from $21.00 to $17.00 and set a "hold" rating on the stock in a research report on Monday, February 5th. Finally, StockNews.com raised Core Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday, January 20th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.50.
Check Out Our Latest Stock Report on Core Laboratories
Core Laboratories Stock Up 1.1 %
Shares of Core Laboratories stock traded up $0.19 during trading on Friday, reaching $17.18. The stock had a trading volume of 365,194 shares, compared to its average volume of 468,243. The company has a market capitalization of $805.12 million, a price-to-earnings ratio of 19.98, a P/E/G ratio of 0.93 and a beta of 2.40. The stock has a fifty day moving average price of $16.11 and a two-hundred day moving average price of $17.82. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71.
Core Laboratories (NYSE:CLB - Get Free Report) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.01). The business had revenue of $128.21 million for the quarter, compared to the consensus estimate of $127.80 million. Core Laboratories had a return on equity of 15.19% and a net margin of 8.03%. During the same quarter in the prior year, the firm posted $0.23 earnings per share.
Core Laboratories Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Friday, February 9th. Core Laboratories's dividend payout ratio (DPR) is presently 4.65%.
Hedge Funds Weigh In On Core Laboratories
A number of institutional investors have recently bought and sold shares of the business. Norden Group LLC acquired a new position in Core Laboratories during the first quarter worth approximately $394,000. Congress Wealth Management LLC DE increased its position in Core Laboratories by 40.8% during the first quarter. Congress Wealth Management LLC DE now owns 183,282 shares of the oil and gas company's stock worth $3,130,000 after buying an additional 53,090 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of Core Laboratories by 17.6% in the first quarter. Congress Asset Management Co. MA now owns 1,606,745 shares of the oil and gas company's stock valued at $27,443,000 after purchasing an additional 240,989 shares during the last quarter. Partnership Wealth Management LLC grew its position in shares of Core Laboratories by 1.1% in the first quarter. Partnership Wealth Management LLC now owns 125,750 shares of the oil and gas company's stock valued at $2,148,000 after purchasing an additional 1,371 shares during the last quarter. Finally, Ridgewood Investments LLC grew its position in shares of Core Laboratories by 143.1% in the first quarter. Ridgewood Investments LLC now owns 32,732 shares of the oil and gas company's stock valued at $559,000 after purchasing an additional 19,269 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company's stock.
About Core Laboratories
(
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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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