Core Laboratories (CLB) Receives Average Recommendation of “Hold” from Analysts

Shares of Core Laboratories (NYSE:CLB) have been assigned a consensus recommendation of “Hold” from the eighteen analysts that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $89.64.

CLB has been the topic of a number of research reports. Tudor Pickering upgraded Core Laboratories from a “hold” rating to a “buy” rating in a research report on Monday, February 25th. Zacks Investment Research upgraded Core Laboratories from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a research report on Wednesday, April 3rd. UBS Group set a $72.00 price objective on Core Laboratories and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Piper Jaffray Companies set a $70.00 price objective on Core Laboratories and gave the stock a “hold” rating in a research report on Wednesday, December 26th. Finally, Citigroup reduced their price objective on Core Laboratories from $76.00 to $66.00 and set a “neutral” rating on the stock in a research report on Friday, January 4th.

In other Core Laboratories news, CAO Kevin Daniels sold 428 shares of Core Laboratories stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $66.25, for a total transaction of $28,355.00. Following the transaction, the chief accounting officer now directly owns 352 shares of the company’s stock, valued at approximately $23,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its stake in shares of Core Laboratories by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,306,668 shares of the oil and gas company’s stock valued at $151,352,000 after purchasing an additional 53,986 shares during the period. BlackRock Inc. raised its stake in Core Laboratories by 1.9% during the 3rd quarter. BlackRock Inc. now owns 3,248,021 shares of the oil and gas company’s stock worth $376,219,000 after buying an additional 61,658 shares during the period. FMR LLC acquired a new position in Core Laboratories during the 3rd quarter worth approximately $651,000. Virtu Financial LLC acquired a new position in Core Laboratories during the 3rd quarter worth approximately $212,000. Finally, Dimensional Fund Advisors LP raised its stake in Core Laboratories by 1.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 299,726 shares of the oil and gas company’s stock worth $34,716,000 after buying an additional 4,620 shares during the period.

Shares of CLB traded up $0.88 during midday trading on Monday, hitting $71.76. The company’s stock had a trading volume of 374,240 shares, compared to its average volume of 564,875. Core Laboratories has a one year low of $56.72 and a one year high of $130.34. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.81 and a current ratio of 2.25. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.54 and a beta of 1.86.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, January 30th. The oil and gas company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $173.20 million for the quarter, compared to the consensus estimate of $173.90 million. Core Laboratories had a return on equity of 63.86% and a net margin of 11.35%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, research analysts forecast that Core Laboratories will post 2.06 EPS for the current fiscal year.

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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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