Brokerages Set Core Laboratories NV (NYSE:CLB) Price Target at $119.57
Core Laboratories NV (NYSE:CLB) has earned an average recommendation of “Hold” from the twenty-one brokerages that are presently covering the company. Three analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $120.46.
A number of analysts have recently issued reports on CLB shares. Zacks Investment Research raised Core Laboratories NV from a “hold” rating to a “buy” rating and set a $138.00 target price on the stock in a research report on Wednesday, July 20th. Citigroup Inc. dropped their target price on Core Laboratories NV from $116.00 to $110.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 28th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Core Laboratories NV in a research report on Thursday, June 30th. Loop Capital started coverage on Core Laboratories NV in a research report on Friday, September 30th. They set a “hold” rating and a $120.00 target price on the stock. Finally, Credit Suisse Group AG started coverage on Core Laboratories NV in a research report on Thursday, September 1st. They set a “neutral” rating and a $115.00 target price on the stock.
Several institutional investors have recently modified their holdings of CLB. Norges Bank acquired a new position in shares of Core Laboratories NV during the fourth quarter valued at about $38,759,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its stake in shares of Core Laboratories NV by 8.4% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 14,114 shares of the company’s stock valued at $1,587,000 after buying an additional 1,097 shares during the last quarter. Virginia Retirement System purchased a new stake in shares of Core Laboratories NV during the first quarter valued at approximately $291,000. IFP Advisors Inc boosted its stake in shares of Core Laboratories NV by 162.8% in the first quarter. IFP Advisors Inc now owns 2,899 shares of the company’s stock valued at $326,000 after buying an additional 1,796 shares during the last quarter. Finally, Ngam Advisors L.P. boosted its stake in shares of Core Laboratories NV by 16.3% in the first quarter. Ngam Advisors L.P. now owns 93,603 shares of the company’s stock valued at $10,522,000 after buying an additional 13,096 shares during the last quarter.
Shares of Core Laboratories NV (NYSE:CLB) opened at 111.08 on Friday. The firm has a market capitalization of $4.90 billion, a PE ratio of 58.93 and a beta of 1.45. Core Laboratories NV has a 52-week low of $84.50 and a 52-week high of $135.49. The firm’s 50-day moving average price is $111.66 and its 200-day moving average price is $117.58.
Core Laboratories NV (NYSE:CLB) last announced its earnings results on Wednesday, July 20th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. Core Laboratories NV had a return on equity of 344.55% and a net margin of 11.81%. The business had revenue of $148.10 million for the quarter, compared to analyst estimates of $146.37 million. During the same period in the previous year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was down 27.4% compared to the same quarter last year. On average, equities analysts predict that Core Laboratories NV will post $1.55 earnings per share for the current fiscal year.
About Core Laboratories NV
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields.
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