Core Laboratories N.V. (NYSE:CLB) posted its quarterly earnings data on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01, Morningstar.com reports. Core Laboratories N.V. had a net margin of 11.80% and a return on equity of 49.29%. The company had revenue of $163.90 million for the quarter, compared to the consensus estimate of $168.23 million. During the same quarter in the previous year, the firm posted $0.35 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Core Laboratories N.V. updated its Q3 guidance to $0.54-0.56 EPS.
Core Laboratories N.V. (NYSE CLB) traded up 0.92% during trading on Friday, reaching $89.55. 832,204 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $100.15 and its 200 day moving average price is $107.78. The firm has a market cap of $3.95 billion, a P/E ratio of 54.94 and a beta of 1.60. Core Laboratories N.V. has a 52-week low of $87.83 and a 52-week high of $125.83.
The company also recently declared 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 yield of 2.46%. Core Laboratories N.V.’s dividend payout ratio (DPR) is presently 134.15%.
CLB has been the topic of several research reports. BidaskClub downgraded shares of Core Laboratories N.V. from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Piper Jaffray Companies set a $97.00 price objective on shares of Core Laboratories N.V. and gave the stock a “hold” rating in a report on Wednesday, July 26th. Loop Capital upgraded shares of Core Laboratories N.V. from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $125.00 to $130.00 in a report on Friday, April 21st. Morgan Stanley restated an “overweight” rating and set a $130.00 price objective (down previously from $150.00) on shares of Core Laboratories N.V. in a report on Wednesday, June 21st. Finally, Citigroup Inc. dropped their price objective on shares of Core Laboratories N.V. from $102.00 to $100.00 and set a “neutral” rating on the stock in a report on Wednesday, July 26th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $117.17.
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Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC raised its position in Core Laboratories N.V. by 33.4% in the first quarter. Parallel Advisors LLC now owns 891 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 223 shares in the last quarter. Quantbot Technologies LP purchased a new position in Core Laboratories N.V. during the first quarter valued at approximately $106,000. Advisory Services Network LLC purchased a new position in Core Laboratories N.V. during the first quarter valued at approximately $118,000. FNY Managed Accounts LLC purchased a new position in Core Laboratories N.V. during the first quarter valued at approximately $123,000. Finally, The Manufacturers Life Insurance Company raised its position in Core Laboratories N.V. by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 439 shares in the last quarter.
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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