Core Laboratories (NYSE:CLB) Price Target Cut to $16.00 by Analysts at Bank of America

Core Laboratories (NYSE:CLB - Free Report) had its price objective decreased by Bank of America from $17.00 to $16.00 in a research report sent to investors on Monday morning, Benzinga reports. Bank of America currently has an underperform rating on the oil and gas company's stock.

CLB has been the subject of several other research reports. StockNews.com raised shares of Core Laboratories from a sell rating to a hold rating in a research report on Saturday, January 20th. Stifel Nicolaus reduced their price target on shares of Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a research report on Monday, February 5th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $18.50.

Core Laboratories Stock Down 0.6 %

Shares of NYSE CLB traded down $0.10 on Monday, reaching $17.40. 416,376 shares of the company's stock traded hands, compared to its average volume of 470,762. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94. The business's 50 day simple moving average is $15.92 and its two-hundred day simple moving average is $17.93. The company has a market cap of $815.36 million, a price-to-earnings ratio of 20.23, a price-to-earnings-growth ratio of 0.55 and a beta of 2.40. The company has a quick ratio of 1.72, a current ratio of 2.53 and a debt-to-equity ratio of 0.71.

Core Laboratories (NYSE:CLB - Get Free Report) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.20 by ($0.01). Core Laboratories had a net margin of 8.03% and a return on equity of 15.19%. The business had revenue of $128.21 million for the quarter, compared to the consensus estimate of $127.80 million. During the same period in the prior year, the business posted $0.23 EPS. As a group, equities research analysts forecast that Core Laboratories will post 0.81 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 4th. Investors of record on Monday, February 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date was Friday, February 9th. Core Laboratories's dividend payout ratio is currently 4.65%.

Institutional Investors Weigh In On Core Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Core Laboratories by 37.8% during the 2nd quarter. BlackRock Inc. now owns 7,927,366 shares of the oil and gas company's stock valued at $184,311,000 after buying an additional 2,173,250 shares in the last quarter. State Street Corp lifted its stake in shares of Core Laboratories by 44.4% during the 2nd quarter. State Street Corp now owns 1,848,741 shares of the oil and gas company's stock valued at $42,983,000 after buying an additional 568,196 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Core Laboratories by 167.6% during the 1st quarter. Ameriprise Financial Inc. now owns 902,625 shares of the oil and gas company's stock valued at $19,903,000 after buying an additional 565,344 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Core Laboratories by 108.4% during the 2nd quarter. Geode Capital Management LLC now owns 893,278 shares of the oil and gas company's stock valued at $20,769,000 after buying an additional 464,644 shares in the last quarter. Finally, Ariel Investments LLC lifted its stake in shares of Core Laboratories by 5.1% during the 1st quarter. Ariel Investments LLC now owns 8,198,544 shares of the oil and gas company's stock valued at $259,320,000 after buying an additional 394,237 shares in the last quarter. Hedge funds and other institutional investors own 97.81% of the company's stock.

About Core Laboratories

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.