Stifel Nicolaus Has Lowered Expectations for Core Laboratories (NYSE:CLB) Stock Price

Core Laboratories (NYSE:CLB - Free Report) had its price objective decreased by Stifel Nicolaus from $13.00 to $12.00 in a research note issued to investors on Wednesday morning,Benzinga reports. Stifel Nicolaus currently has a hold rating on the oil and gas company's stock.

Several other research analysts have also recently commented on the company. Wall Street Zen cut Core Laboratories from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Citigroup lowered their price objective on Core Laboratories from $16.00 to $13.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th.

Core Laboratories Price Performance

Shares of NYSE CLB traded down $0.22 during midday trading on Wednesday, hitting $11.43. The stock had a trading volume of 101,561 shares, compared to its average volume of 407,879. Core Laboratories has a 1 year low of $10.14 and a 1 year high of $25.13. The company has a market capitalization of $535.84 million, a PE ratio of 19.35, a P/E/G ratio of 3.48 and a beta of 1.41. The company has a quick ratio of 1.64, a current ratio of 2.21 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $11.83 and a 200-day simple moving average of $14.15.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.01). Core Laboratories had a net margin of 5.41% and a return on equity of 15.06%. The business had revenue of $123.59 million during the quarter, compared to analysts' expectations of $125.09 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Core Laboratories's revenue for the quarter was down 4.7% compared to the same quarter last year. On average, sell-side analysts expect that Core Laboratories will post 0.96 EPS for the current fiscal year.

Core Laboratories Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 5th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Monday, May 5th. Core Laboratories's dividend payout ratio (DPR) is 6.78%.

Hedge Funds Weigh In On Core Laboratories

A number of large investors have recently modified their holdings of the business. Ridgewood Investments LLC increased its stake in Core Laboratories by 2.7% in 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. increased its stake in Core Laboratories by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,723 shares of the oil and gas company's stock valued at $463,000 after purchasing an additional 960 shares in the last quarter. Mackenzie Financial Corp increased its stake in Core Laboratories by 5.0% in the 1st quarter. Mackenzie Financial Corp now owns 24,556 shares of the oil and gas company's stock valued at $368,000 after purchasing an additional 1,170 shares in the last quarter. Assetmark Inc. increased its stake in Core Laboratories by 92.5% in the 1st quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company's stock valued at $43,000 after purchasing an additional 1,387 shares in the last quarter. Finally, Captrust Financial Advisors increased its stake in Core Laboratories by 3.2% in the 4th quarter. Captrust Financial Advisors now owns 55,527 shares of the oil and gas company's stock valued at $961,000 after purchasing an additional 1,728 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.