Core Laboratories (NYSE:CLB) Short Interest Update

Core Laboratories (NYSE:CLB) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 2,830,000 shares, a decrease of 8.4% from the December 15th total of 3,090,000 shares. Approximately 6.5% of the shares of the company are short sold. Based on an average daily volume of 713,800 shares, the short-interest ratio is currently 4.0 days.

Large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new stake in Core Laboratories during the 1st quarter valued at approximately $30,000. Stonebridge Capital Advisors LLC acquired a new stake in shares of Core Laboratories during the 2nd quarter worth approximately $31,000. Griffin Asset Management Inc. acquired a new stake in shares of Core Laboratories during the 2nd quarter worth approximately $31,000. HM Payson & Co. acquired a new stake in shares of Core Laboratories during the 2nd quarter worth approximately $49,000. Finally, Quest Capital Management Inc. ADV acquired a new stake in shares of Core Laboratories during the 3rd quarter worth approximately $50,000.

A number of equities analysts have recently commented on CLB shares. ABN Amro downgraded shares of Core Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, October 17th. Stifel Nicolaus downgraded shares of Core Laboratories from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $50.00 to $40.00 in a report on Thursday, January 2nd. Citigroup raised their price objective on shares of Core Laboratories from $44.00 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. ValuEngine raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Core Laboratories from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday, December 31st. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $52.55.

CLB opened at $40.51 on Thursday. Core Laboratories has a twelve month low of $36.50 and a twelve month high of $75.63. The company has a 50-day simple moving average of $43.66 and a 200 day simple moving average of $45.37. The company has a quick ratio of 1.48, a current ratio of 1.92 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 17.77, a P/E/G ratio of 7.16 and a beta of 1.92.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. The firm had revenue of $173.20 million during the quarter, compared to analysts’ expectations of $171.38 million. Core Laboratories had a net margin of 14.68% and a return on equity of 45.63%. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.64 earnings per share. Sell-side analysts anticipate that Core Laboratories will post 1.73 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Friday, January 24th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, January 23rd. Core Laboratories’s dividend payout ratio is presently 96.49%.

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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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