Bank of America Trims Core Laboratories (NYSE:CLB) Target Price to $16.00

Core Laboratories (NYSE:CLB) had its price target trimmed by Bank of America from $17.00 to $16.00 in a report issued on Monday morning, Benzinga reports. They currently have an underperform rating on the oil and gas company’s stock.

A number of other research analysts have also commented on CLB. Stifel Nicolaus cut their target price on Core Laboratories from $21.00 to $17.00 and set a hold rating for the company in a research note on Monday, February 5th. StockNews.com upgraded Core Laboratories from a sell rating to a hold rating in a research note on Saturday, January 20th. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat, Core Laboratories currently has an average rating of Hold and a consensus price target of $18.50.

Core Laboratories Stock Down 3.1 %

Shares of CLB stock opened at $16.71 on Monday. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $27.94. The firm has a market cap of $783.03 million, a PE ratio of 19.43, a price-to-earnings-growth ratio of 0.54 and a beta of 2.40. The stock has a 50 day moving average of $16.01 and a 200-day moving average of $17.87. 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) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The business had revenue of $128.21 million for the quarter, compared to analyst estimates 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 last year, the firm earned $0.23 earnings per share. On average, equities analysts predict that Core Laboratories will post 0.81 EPS for the current year.

Core Laboratories Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 4th. Shareholders of record on Monday, February 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.04 annualized dividend and a yield of 0.24%. Core Laboratories’s dividend payout ratio is currently 4.65%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Ariel Investments LLC grew its holdings in shares of Core Laboratories by 5.1% during the first quarter. Ariel Investments LLC now owns 8,198,544 shares of the oil and gas company’s stock worth $259,320,000 after purchasing an additional 394,237 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Core Laboratories by 37.8% during the second quarter. BlackRock Inc. now owns 7,927,366 shares of the oil and gas company’s stock worth $184,311,000 after purchasing an additional 2,173,250 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Core Laboratories by 0.9% during the third quarter. Vanguard Group Inc. now owns 5,144,814 shares of the oil and gas company’s stock worth $69,352,000 after purchasing an additional 46,425 shares during the last quarter. Boston Trust Walden Corp grew its holdings in shares of Core Laboratories by 3.6% during the third quarter. Boston Trust Walden Corp now owns 2,277,774 shares of the oil and gas company’s stock worth $54,689,000 after purchasing an additional 79,166 shares during the last quarter. Finally, State Street Corp boosted its holdings in Core Laboratories by 44.4% in the second quarter. State Street Corp now owns 1,848,741 shares of the oil and gas company’s stock valued at $42,983,000 after acquiring an additional 568,196 shares during the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.