Core Laboratories (NYSE:CLB) Upgraded at ValuEngine

ValuEngine upgraded shares of Core Laboratories (NYSE:CLB) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning, ValuEngine reports.

Other analysts have also issued reports about the stock. ABN Amro raised shares of Core Laboratories from a sell rating to a hold rating in a research note on Tuesday, September 29th. Morgan Stanley upped their price objective on shares of Core Laboratories from $24.00 to $25.00 and gave the stock an equal weight rating in a research note on Monday, October 26th. Smith Barney Citigroup decreased their price target on shares of Core Laboratories from $21.00 to $16.00 in a research report on Friday, October 23rd. Piper Sandler increased their price target on shares of Core Laboratories from $15.00 to $16.00 and gave the company a neutral rating in a research report on Monday, July 27th. Finally, Bank of America raised shares of Core Laboratories from an underperform rating to a neutral rating in a research report on Tuesday, October 13th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $22.26.

Shares of CLB opened at $17.58 on Tuesday. Core Laboratories has a 12-month low of $6.68 and a 12-month high of $48.40. The firm has a fifty day moving average price of $15.49 and a 200-day moving average price of $19.53. The firm has a market capitalization of $782.22 million, a P/E ratio of -7.74, a P/E/G ratio of 4.05 and a beta of 3.15. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 2.64.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.02. Core Laboratories had a negative net margin of 19.02% and a positive return on equity of 45.39%. The company had revenue of $105.38 million during the quarter, compared to analyst estimates of $109.33 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The firm’s revenue for the quarter was down 39.2% compared to the same quarter last year. Analysts predict that Core Laboratories will post 0.78 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 17th. Stockholders of record on Monday, October 26th will be issued a dividend of $0.01 per share. The ex-dividend date is Friday, October 23rd. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. Core Laboratories’s dividend payout ratio (DPR) is currently 2.23%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Core Laboratories by 7.3% during the second quarter. Vanguard Group Inc. now owns 4,693,148 shares of the oil and gas company’s stock valued at $95,365,000 after acquiring an additional 318,581 shares in the last quarter. AKO Capital LLP increased its holdings in shares of Core Laboratories by 10.6% during the third quarter. AKO Capital LLP now owns 1,470,753 shares of the oil and gas company’s stock valued at $22,444,000 after acquiring an additional 141,453 shares in the last quarter. State Street Corp increased its holdings in shares of Core Laboratories by 1.8% during the third quarter. State Street Corp now owns 889,138 shares of the oil and gas company’s stock valued at $13,589,000 after acquiring an additional 15,419 shares in the last quarter. Morgan Stanley increased its holdings in shares of Core Laboratories by 137.3% during the first quarter. Morgan Stanley now owns 876,426 shares of the oil and gas company’s stock valued at $9,062,000 after acquiring an additional 507,141 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of Core Laboratories by 16.0% during the third quarter. Sei Investments Co. now owns 608,118 shares of the oil and gas company’s stock valued at $9,288,000 after acquiring an additional 83,886 shares in the last quarter. Hedge funds and other institutional investors own 94.46% of the company’s stock.

Core Laboratories Company Profile

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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