Core Laboratories NV (CLB) Stock Rating Upgraded by Zacks Investment Research
Core Laboratories NV (NYSE:CLB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Thursday.
According to Zacks, “Core Laboratories boasts of a unique business model, disciplined financial management and technological expertise. We also like CLB's leadership position in the reservoir optimization niche, along with its global footprint and deep portfolio of proprietary products and services. Furthermore, CLB’s low asset intensive operations and limited capex needs allow it to generate substantial free cash flows. Providing core sample and fluid analysis to oil and natural gas producers in managing their reserves, Core Labs have been able to operate profitably even in this low commodity price environment. However, we see limited upside potential for shares due to the specialized service provider’s sensitivity to gas/oil price volatility, as well as E&P spending patterns, costs, geo-political risks, competition and the advent of new technologies. This accounts for our cautious stance.”
CLB has been the subject of several other reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Core Laboratories NV in a report on Thursday, June 30th. DA Davidson assumed coverage on Core Laboratories NV in a report on Wednesday. They set a “buy” rating and a $136.00 price objective for the company. KLR Group reaffirmed a “buy” rating and set a $180.00 price objective (up from $166.00) on shares of Core Laboratories NV in a report on Monday, June 13th. Citigroup Inc. reduced their price objective on Core Laboratories NV from $123.00 to $118.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Finally, Loop Capital assumed coverage on Core Laboratories NV in a report on Friday, September 30th. They set a “hold” rating and a $120.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $121.33.
Shares of Core Laboratories NV (NYSE:CLB) traded up 0.88% on Thursday, hitting $112.86. The stock had a trading volume of 281,819 shares. The firm’s 50-day moving average is $111.48 and its 200-day moving average is $117.54. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 59.87 and a beta of 1.45. Core Laboratories NV has a one year low of $84.50 and a one year high of $135.49.
Core Laboratories NV (NYSE:CLB) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. The business earned $148.10 million during the quarter, compared to analysts’ expectations of $146.37 million. Core Laboratories NV had a return on equity of 344.55% and a net margin of 11.81%. The company’s quarterly revenue was down 27.4% compared to the same quarter last year. During the same period last year, the firm earned $0.81 EPS. On average, analysts expect that Core Laboratories NV will post $1.55 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Ranger Investment Management L.P. boosted its position in shares of Core Laboratories NV by 0.8% in the second quarter. Ranger Investment Management L.P. now owns 2,565 shares of the company’s stock worth $318,000 after buying an additional 20 shares in the last quarter. Montag & Caldwell LLC boosted its position in shares of Core Laboratories NV by 0.7% in the second quarter. Montag & Caldwell LLC now owns 4,450 shares of the company’s stock worth $551,000 after buying an additional 30 shares in the last quarter. BlackRock Investment Management LLC boosted its position in shares of Core Laboratories NV by 1.4% in the second quarter. BlackRock Investment Management LLC now owns 4,915 shares of the company’s stock worth $609,000 after buying an additional 68 shares in the last quarter. Parsons Capital Management Inc. RI boosted its position in shares of Core Laboratories NV by 3.6% in the second quarter. Parsons Capital Management Inc. RI now owns 2,150 shares of the company’s stock worth $266,000 after buying an additional 75 shares in the last quarter. Finally, Laurel Wealth Advisors Inc. boosted its position in shares of Core Laboratories NV by 3.6% in the second quarter. Laurel Wealth Advisors Inc. now owns 2,132 shares of the company’s stock worth $264,000 after buying an additional 75 shares in the last quarter.
Core Laboratories NV Company Profile
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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