Core Laboratories (CLB) Upgraded to “Buy” at ValuEngine

Core Laboratories (NYSE:CLB) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Several other research firms also recently issued reports on CLB. Zacks Investment Research downgraded Core Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup increased their target price on Core Laboratories from $117.00 to $123.00 and gave the company a “neutral” rating in a research note on Monday, April 30th. Cowen set a $98.00 target price on Core Laboratories and gave the company a “hold” rating in a research note on Friday, April 13th. Royal Bank of Canada set a $125.00 target price on Core Laboratories and gave the company a “buy” rating in a research note on Tuesday, January 30th. Finally, TheStreet upgraded Core Laboratories from a “c” rating to a “b-” rating in a research note on Thursday, February 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Core Laboratories presently has an average rating of “Hold” and a consensus price target of $115.63.

Shares of CLB traded up $2.56 during trading hours on Thursday, hitting $128.83. 245,163 shares of the company were exchanged, compared to its average volume of 441,207. The company has a market cap of $5.48 billion, a PE ratio of 64.42 and a beta of 1.38. Core Laboratories has a 52 week low of $124.39 and a 52 week high of $125.99. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.76 and a current ratio of 2.11.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 25th. The oil and gas company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $170.00 million during the quarter, compared to the consensus estimate of $171.03 million. Core Laboratories had a return on equity of 62.69% and a net margin of 13.24%. The firm’s revenue was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 EPS. research analysts predict that Core Laboratories will post 2.71 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the business. Atlantic Trust Group LLC raised its holdings in Core Laboratories by 13.5% in the 1st quarter. Atlantic Trust Group LLC now owns 4,045 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 480 shares in the last quarter. Select Equity Group L.P. raised its holdings in Core Laboratories by 68.5% in the 1st quarter. Select Equity Group L.P. now owns 299,467 shares of the oil and gas company’s stock valued at $32,408,000 after acquiring an additional 121,786 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its holdings in Core Laboratories by 29.0% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 151,085 shares of the oil and gas company’s stock valued at $16,350,000 after acquiring an additional 33,921 shares in the last quarter. Guggenheim Capital LLC raised its holdings in Core Laboratories by 41.1% in the 1st quarter. Guggenheim Capital LLC now owns 16,190 shares of the oil and gas company’s stock valued at $1,751,000 after acquiring an additional 4,718 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in Core Laboratories by 35.5% in the 1st quarter. LPL Financial LLC now owns 2,950 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 773 shares in 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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Analyst Recommendations for Core Laboratories (NYSE:CLB)

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