Investors Buy High Volume of Core Laboratories Call Options (CLB)

Core Laboratories (NYSE:CLB) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 1,462 call options on the stock. This represents an increase of approximately 1,279% compared to the typical volume of 106 call options.

Several research analysts recently weighed in on the stock. UBS Group set a $72.00 price target on shares of Core Laboratories and gave the stock a “hold” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Core Laboratories from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 23rd. Citigroup cut their price objective on shares of Core Laboratories from $76.00 to $66.00 and set a “neutral” rating for the company in a report on Friday, January 4th. Piper Jaffray Companies set a $70.00 price objective on shares of Core Laboratories and gave the company a “hold” rating in a report on Wednesday, December 26th. Finally, Credit Suisse Group downgraded shares of Core Laboratories from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $75.00 in a report on Wednesday, December 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $95.09.

Several institutional investors have recently bought and sold shares of CLB. Financial Gravity Companies Inc. acquired a new stake in shares of Core Laboratories in the 4th quarter valued at $57,000. Dupont Capital Management Corp raised its holdings in shares of Core Laboratories by 89.1% in the 4th quarter. Dupont Capital Management Corp now owns 22,783 shares of the oil and gas company’s stock valued at $1,359,000 after purchasing an additional 10,733 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Core Laboratories by 92.4% in the 4th quarter. Rhumbline Advisers now owns 72,796 shares of the oil and gas company’s stock valued at $4,343,000 after purchasing an additional 34,959 shares in the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Core Laboratories by 9.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,040 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 360 shares in the last quarter. Finally, Pendal Group Ltd acquired a new stake in shares of Core Laboratories in the 4th quarter valued at $137,000.

CLB stock opened at $68.24 on Wednesday. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 2.52 and a beta of 1.87. The company has a debt-to-equity ratio of 1.80, a current ratio of 2.25 and a quick ratio of 1.81. Core Laboratories has a 12 month low of $56.72 and a 12 month high of $130.34.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, January 30th. The oil and gas company reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.01). The business had revenue of $173.20 million during the quarter, compared to analyst estimates of $173.90 million. Core Laboratories had a net margin of 11.35% and a return on equity of 63.86%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.58 EPS. On average, sell-side analysts expect that Core Laboratories will post 2.02 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 15th. Shareholders of record on Friday, January 25th will be issued a $0.55 dividend. The ex-dividend date of this dividend is Thursday, January 24th. This represents a $2.20 dividend on an annualized basis and a yield of 3.22%.

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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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