Core Laboratories N.V. (NYSE:CLB) issued its earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $168.23 million. During the same period in the prior year, the firm earned $0.35 EPS. Core Laboratories N.V.’s quarterly 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.
Shares of Core Laboratories N.V. (NYSE CLB) traded up 0.92% on Friday, hitting $89.55. 832,204 shares of the stock were exchanged. Core Laboratories N.V. has a 12 month low of $87.83 and a 12 month high of $125.83. The company has a 50-day moving average price of $100.15 and a 200 day moving average price of $107.78. The company has a market cap of $3.95 billion, a PE ratio of 54.94 and a beta of 1.60.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 17th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date of this dividend was Thursday, July 13th. Core Laboratories N.V.’s dividend payout ratio is currently 134.15%.
A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Core Laboratories N.V. from a “sell” rating to a “hold” rating in a report on Friday, April 21st. BidaskClub downgraded shares of Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. UBS AG reaffirmed a “neutral” rating and set a $110.00 price target (down previously from $125.00) on shares of Core Laboratories N.V. in a research note on Wednesday, July 26th. Morgan Stanley decreased their price objective on shares of Core Laboratories N.V. from $130.00 to $125.00 and set an “overweight” rating for the company in a research report on Monday, August 7th. Finally, Scotiabank set a $136.00 price objective on shares of Core Laboratories N.V. and gave the stock a “hold” rating in a research report on Saturday, April 22nd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $117.17.
Several hedge funds and other institutional investors have recently made changes to their positions in CLB. Dimensional Fund Advisors LP boosted its stake in shares of Core Laboratories N.V. by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 217,670 shares of the oil and gas company’s stock valued at $26,128,000 after buying an additional 6,962 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Core Laboratories N.V. by 36.0% in the fourth quarter. Guggenheim Capital LLC now owns 13,752 shares of the oil and gas company’s stock valued at $1,651,000 after buying an additional 3,640 shares during the last quarter. Norges Bank bought a new stake in shares of Core Laboratories N.V. during the fourth quarter valued at about $31,248,000. UBS Asset Management Americas Inc. boosted its stake in shares of Core Laboratories N.V. by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 114,731 shares of the oil and gas company’s stock valued at $13,772,000 after buying an additional 556 shares during the last quarter. Finally, Integrated Investment Consultants LLC boosted its stake in shares of Core Laboratories N.V. by 0.8% in the first quarter. Integrated Investment Consultants LLC now owns 2,330 shares of the oil and gas company’s stock valued at $269,000 after buying an additional 19 shares during the last quarter.
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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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