Core Laboratories Inc. (NYSE:CLB – Free Report) – Research analysts at Zacks Research cut their Q3 2023 earnings per share (EPS) estimates for shares of Core Laboratories in a research report issued to clients and investors on Tuesday, September 5th. Zacks Research analyst T. Saha now anticipates that the oil and gas company will post earnings per share of $0.19 for the quarter, down from their prior estimate of $0.20. The consensus estimate for Core Laboratories’ current full-year earnings is $0.61 per share. Zacks Research also issued estimates for Core Laboratories’ FY2023 earnings at $0.59 EPS, Q1 2025 earnings at $0.14 EPS and Q2 2025 earnings at $0.27 EPS.
CLB has been the subject of a number of other reports. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, August 24th. TheStreet upgraded Core Laboratories from a “c” rating to a “b-” rating in a report on Wednesday, July 26th. Piper Sandler increased their price objective on Core Laboratories from $19.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Finally, Citigroup lowered shares of Core Laboratories from a “neutral” rating to a “sell” rating and cut their price objective for the company from $22.00 to $21.00 in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $21.70.
Core Laboratories Price Performance
CLB opened at $26.12 on Thursday. The stock has a fifty day moving average of $24.49 and a 200-day moving average of $23.27. The firm has a market capitalization of $1.22 billion, a P/E ratio of 31.47, a PEG ratio of 0.82 and a beta of 2.68. The company has a quick ratio of 1.71, a current ratio of 2.45 and a debt-to-equity ratio of 0.83. Core Laboratories has a 12-month low of $13.19 and a 12-month high of $27.94.
Core Laboratories (NYSE:CLB – Get Free Report) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. The business had revenue of $127.88 million for the quarter, compared to the consensus estimate of $132.20 million. Core Laboratories had a net margin of 7.75% and a return on equity of 16.83%.
Core Laboratories Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 28th. Investors of record on Monday, August 7th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.15%. The ex-dividend date was Friday, August 4th. Core Laboratories’s payout ratio is 4.82%.
Institutional Trading of Core Laboratories
Several large investors have recently modified their holdings of the company. Signaturefd LLC lifted its position in Core Laboratories by 33.1% during the 2nd quarter. Signaturefd LLC now owns 1,590 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 395 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Core Laboratories by 13.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,484 shares of the oil and gas company’s stock worth $81,000 after purchasing an additional 410 shares during the last quarter. State of Wyoming boosted its stake in Core Laboratories by 43.1% during the 2nd quarter. State of Wyoming now owns 1,447 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 436 shares during the period. California State Teachers Retirement System boosted its stake in Core Laboratories by 1.2% during the 1st quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company’s stock valued at $1,253,000 after purchasing an additional 481 shares during the period. Finally, Arizona State Retirement System grew its holdings in Core Laboratories by 3.9% in the 4th quarter. Arizona State Retirement System now owns 13,071 shares of the oil and gas company’s stock valued at $265,000 after buying an additional 487 shares during the last quarter. 97.81% of the stock is owned by 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, Canada, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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