Core Laboratories (NYSE:CLB) Posts Earnings Results, Meets Estimates

Core Laboratories (NYSE:CLB) announced its quarterly earnings results on Wednesday. The oil and gas company reported $0.16 EPS for the quarter, meeting analysts’ consensus estimates of $0.16, FiscalAI reports. Core Laboratories had a net margin of 5.10% and a return on equity of 10.03%.

Core Laboratories Trading Up 1.8%

NYSE:CLB traded up $0.19 during mid-day trading on Wednesday, hitting $10.52. 976,970 shares of the stock traded hands, compared to its average volume of 592,095. The stock has a market capitalization of $482.57 million, a price-to-earnings ratio of 18.78, a PEG ratio of 1.98 and a beta of 1.14. Core Laboratories has a 52 week low of $9.13 and a 52 week high of $20.36. The firm’s 50 day moving average is $11.11 and its two-hundred day moving average is $14.05. The company has a quick ratio of 1.55, a current ratio of 2.12 and a debt-to-equity ratio of 0.41.

Insiders Place Their Bets

In other Core Laboratories news, CEO Lawrence Bruno bought 5,000 shares of the company’s stock in a transaction on Friday, July 31st. The stock was acquired at an average price of $10.78 per share, for a total transaction of $53,900.00. Following the completion of the transaction, the chief executive officer directly owned 262,438 shares of the company’s stock, valued at approximately $2,829,081.64. This represents a 1.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Wall Street Zen raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded Core Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Finally, Johnson Rice raised Core Laboratories from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.00.

About Core Laboratories

Core Laboratories N.V. (NYSE: CLB) is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.