Core Laboratories N.V. (CLB) Hits New 52-Week Low at $96.20

Shares of Core Laboratories N.V. (NYSE:CLB) hit a new 52-week low on Wednesday . The stock traded as low as $96.20 and last traded at $96.17, with a volume of 249,495 shares traded. The stock had previously closed at $98.50.

CLB has been the subject of several recent analyst reports. BidaskClub downgraded Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Piper Jaffray Companies set a $97.00 price objective on Core Laboratories N.V. and gave the stock a “hold” rating in a research report on Wednesday, July 26th. Loop Capital upgraded Core Laboratories N.V. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $130.00 in a research report on Friday, April 21st. Morgan Stanley restated an “overweight” rating and set a $130.00 price objective (down from $150.00) on shares of Core Laboratories N.V. in a research report on Wednesday, June 21st. Finally, Citigroup Inc. lowered their target price on Core Laboratories N.V. from $102.00 to $100.00 and set a “neutral” rating for the company in a report on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $117.17.

The company has a market capitalization of $3.95 billion, a P/E ratio of 54.94 and a beta of 1.60. The firm’s 50 day moving average is $100.15 and its 200 day moving average is $107.78.

Core Laboratories N.V. (NYSE:CLB) last posted its earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. The company had revenue of $163.90 million during the quarter, compared to the consensus estimate of $168.23 million. Core Laboratories N.V. had a net margin of 11.80% and a return on equity of 49.29%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. Equities analysts expect that Core Laboratories N.V. will post $2.09 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 17th were given a $0.55 dividend. The ex-dividend date of this dividend was Thursday, July 13th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.46%. Core Laboratories N.V.’s dividend payout ratio (DPR) is currently 134.15%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Genesee Valley Trust Co. increased its position in shares of Core Laboratories N.V. by 0.3% in the first quarter. Genesee Valley Trust Co. now owns 5,538 shares of the oil and gas company’s stock worth $639,000 after buying an additional 16 shares during the period. Stephens Inc. AR increased its position in shares of Core Laboratories N.V. by 1.0% in the first quarter. Stephens Inc. AR now owns 3,046 shares of the oil and gas company’s stock worth $352,000 after buying an additional 31 shares during the period. Creative Planning increased its position in shares of Core Laboratories N.V. by 1.9% in the first quarter. Creative Planning now owns 1,730 shares of the oil and gas company’s stock worth $200,000 after buying an additional 33 shares during the period. First Bank & Trust increased its position in shares of Core Laboratories N.V. by 2.7% in the first quarter. First Bank & Trust now owns 1,411 shares of the oil and gas company’s stock worth $163,000 after buying an additional 37 shares during the period. Finally, Callahan Advisors LLC increased its position in shares of Core Laboratories N.V. by 2.5% in the second quarter. Callahan Advisors LLC now owns 2,075 shares of the oil and gas company’s stock worth $210,000 after buying an additional 50 shares during the period.

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Core Laboratories N.V. Company Profile

Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.

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