Core Laboratories (NYSE:CLB) Director Jan Willem Sodderland purchased 200 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was bought at an average cost of $85.76 per share, for a total transaction of $17,152.00. Following the completion of the purchase, the director now directly owns 4,848 shares of the company’s stock, valued at approximately $415,764.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.
Core Laboratories stock opened at $86.82 on Friday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31. Core Laboratories has a one year low of $82.07 and a one year high of $130.34. The firm has a market cap of $3.77 billion, a price-to-earnings ratio of 43.41, a price-to-earnings-growth ratio of 2.53 and a beta of 1.46.
Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. Core Laboratories had a net margin of 13.21% and a return on equity of 68.00%. The company had revenue of $182.15 million during the quarter, compared to analysts’ expectations of $178.11 million. During the same period in the prior year, the company earned $0.46 earnings per share. The business’s quarterly revenue was up 11.8% compared to the same quarter last year. On average, sell-side analysts predict that Core Laboratories will post 2.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, October 19th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Thursday, October 18th. Core Laboratories’s dividend payout ratio (DPR) is 110.00%.
Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its holdings in Core Laboratories by 403.7% during the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 650 shares during the period. WMS Partners LLC bought a new stake in shares of Core Laboratories in the second quarter valued at about $202,000. World Asset Management Inc bought a new stake in shares of Core Laboratories in the second quarter valued at about $205,000. Parallel Advisors LLC lifted its stake in shares of Core Laboratories by 73.3% in the third quarter. Parallel Advisors LLC now owns 1,634 shares of the oil and gas company’s stock valued at $189,000 after buying an additional 691 shares during the period. Finally, Ingalls & Snyder LLC bought a new stake in shares of Core Laboratories in the second quarter valued at about $225,000.
Several research firms have commented on CLB. Piper Jaffray Companies set a $95.00 target price on shares of Core Laboratories and gave the stock a “hold” rating in a research report on Friday, October 5th. Morgan Stanley began coverage on shares of Core Laboratories in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $125.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of Core Laboratories from $118.00 to $121.00 and gave the stock an “overweight” rating in a research report on Monday, September 17th. Zacks Investment Research raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Friday, October 12th. Finally, Credit Suisse Group lowered their target price on shares of Core Laboratories from $122.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Core Laboratories has a consensus rating of “Hold” and a consensus price target of $111.36.
About Core Laboratories
Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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