Core Laboratories (NYSE:CLB) Shares Gap Down – Here’s Why

Core Laboratories Inc. (NYSE:CLB)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $18.54, but opened at $17.36. Core Laboratories shares last traded at $18.27, with a volume of 37,468 shares.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup dropped their price target on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $17.00.

Core Laboratories Stock Performance

The firm has a market capitalization of $815.76 million, a PE ratio of 26.72, a price-to-earnings-growth ratio of 1.14 and a beta of 2.39. The business’s fifty day simple moving average is $19.00 and its 200-day simple moving average is $19.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. As a group, equities research analysts expect that Core Laboratories Inc. will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Core Laboratories

A number of institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Core Laboratories by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock valued at $366,000 after purchasing an additional 579 shares during the last quarter. Creative Planning boosted its holdings in Core Laboratories by 38.3% in the second quarter. Creative Planning now owns 54,891 shares of the oil and gas company’s stock valued at $1,114,000 after purchasing an additional 15,196 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Core Laboratories by 11.9% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 600 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Core Laboratories by 184.6% in the 3rd quarter. SG Americas Securities LLC now owns 69,740 shares of the oil and gas company’s stock valued at $1,292,000 after purchasing an additional 45,232 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Core Laboratories by 33.0% in the third quarter. GAMMA Investing LLC now owns 5,885 shares of the oil and gas company’s stock valued at $109,000 after buying an additional 1,460 shares in the last quarter. Institutional investors own 97.81% of the company’s stock.

About Core Laboratories

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.