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

Core Laboratories (NYSE:CLB) issued its quarterly earnings results on Wednesday. The oil and gas company reported $0.16 earnings per share 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%

Core Laboratories stock traded up $0.19 during midday trading on Wednesday, reaching $10.52. 976,970 shares of the stock traded hands, compared to its average volume of 592,095. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 0.41. The firm has a market cap of $482.57 million, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The company has a 50-day simple moving average of $11.11 and a two-hundred day simple moving average of $14.05. Core Laboratories has a 12-month low of $9.13 and a 12-month high of $20.36.

Insider Transactions at Core Laboratories

In related news, CEO Lawrence Bruno bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $10.78 per share, for a total transaction of $53,900.00. Following the completion of the acquisition, the chief executive officer owned 262,438 shares in the company, valued at approximately $2,829,081.64. This trade represents a 1.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.26% of the company’s stock.

Analyst Upgrades and Downgrades

CLB has been the subject of a number of research analyst reports. Wall Street Zen raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Johnson Rice raised Core Laboratories from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, August 13th. Finally, Weiss Ratings cut Core Laboratories from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.00.

Core Laboratories Company Profile

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.