Zacks Investment Research upgraded shares of Core Laboratories (NYSE:CLB) from a sell rating to a hold rating in a research report report published on Friday.

According to Zacks, “Core Laboratories' technology-heavy portfolio of proprietary products and services gives it the opportunity to optimize production from new and existing fields. Furthermore, the company's low asset intensive operations and limited capital expenditure needs allow it to generate substantial free cash flows, the bulk of which it returns to investors via dividends and stock buybacks. With energy companies looking to utilize every dollar that they spend, Core Labs' services have become even more important for energy companies. However, deferred international activities, especially in the Middle East and Asia-Pacific regions, have been impacting revenues in the Reservoir Description unit. To make things worse, the company anticipates sluggishness in the overseas segment to continue in the third quarter as well. The interplay of all these factors forms the basis of the cautious stance on the prospects of the stock.”

Other research analysts have also issued reports about the stock. ValuEngine raised shares of Core Laboratories from a hold rating to a buy rating in a report on Tuesday, September 4th. ABN Amro downgraded Core Laboratories from a hold rating to a sell rating in a research report on Monday, July 2nd. Piper Jaffray Companies restated a hold rating and issued a $96.00 price target on shares of Core Laboratories in a research report on Friday, July 27th. Citigroup upgraded Core Laboratories from a sell rating to a neutral rating and set a $117.00 price target for the company in a research report on Monday, August 13th. Finally, JPMorgan Chase & Co. lowered their price target on Core Laboratories from $121.00 to $118.00 and set an overweight rating for the company in a research report on Friday, July 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $115.15.

Shares of CLB stock traded down $1.05 on Friday, reaching $107.25. The company’s stock had a trading volume of 477,343 shares, compared to its average volume of 416,688. Core Laboratories has a 1 year low of $87.66 and a 1 year high of $130.34. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.85 and a current ratio of 2.24. The firm has a market cap of $5.12 billion, a PE ratio of 53.63, a price-to-earnings-growth ratio of 3.96 and a beta of 1.46.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. Core Laboratories had a net margin of 13.32% and a return on equity of 64.13%. The firm had revenue of $175.48 million during the quarter, compared to analyst estimates of $174.47 million. During the same period last year, the firm posted $0.51 earnings per share. Core Laboratories’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Core Laboratories will post 2.44 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, October 19th will be given a $0.55 dividend. The ex-dividend date is Thursday, October 18th. This represents a $2.20 dividend on an annualized basis and a yield of 2.05%. Core Laboratories’s dividend payout ratio is presently 110.00%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Eqis Capital Management Inc. lifted its position in shares of Core Laboratories by 22.5% during the second quarter. Eqis Capital Management Inc. now owns 8,087 shares of the oil and gas company’s stock worth $1,021,000 after purchasing an additional 1,483 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Core Laboratories by 3.1% during the first quarter. Principal Financial Group Inc. now owns 187,270 shares of the oil and gas company’s stock worth $20,266,000 after purchasing an additional 5,657 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in shares of Core Laboratories during the second quarter worth $8,084,000. BB&T Securities LLC lifted its position in shares of Core Laboratories by 3.2% during the second quarter. BB&T Securities LLC now owns 22,196 shares of the oil and gas company’s stock worth $2,801,000 after purchasing an additional 692 shares during the last quarter. Finally, Northern Trust Corp lifted its position in shares of Core Laboratories by 2.0% during the second quarter. Northern Trust Corp now owns 484,007 shares of the oil and gas company’s stock worth $61,086,000 after purchasing an additional 9,341 shares during the last quarter.

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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