Credit Suisse Group Upgrades Core Laboratories N.V. (CLB) to “Outperform”
Core Laboratories N.V. (NYSE:CLB) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research report issued on Thursday. The brokerage currently has a $110.00 target price on the oil and gas company’s stock. Credit Suisse Group’s price target suggests a potential upside of 22.75% from the company’s previous close. The analysts noted that the move was a valuation call.
Several other equities analysts have also recently issued reports on CLB. ValuEngine cut shares of Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research note on Tuesday, June 6th. Zacks Investment Research upgraded shares of Core Laboratories N.V. from a “hold” rating to a “buy” rating and set a $116.00 target price for the company in a research note on Monday, June 12th. BidaskClub upgraded shares of Core Laboratories N.V. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Royal Bank Of Canada set a $145.00 target price on shares of Core Laboratories N.V. and gave the company a “buy” rating in a research note on Saturday, June 17th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $130.00 target price (down from $150.00) on shares of Core Laboratories N.V. in a research note on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $116.75.
Core Laboratories N.V. (CLB) opened at 89.61 on Thursday. Core Laboratories N.V. has a 1-year low of $87.83 and a 1-year high of $125.83. The company has a 50-day moving average of $98.61 and a 200-day moving average of $106.75. The stock has a market capitalization of $3.96 billion, a price-to-earnings ratio of 54.98 and a beta of 1.60.
Core Laboratories N.V. (NYSE:CLB) last posted its earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Core Laboratories N.V. had a net margin of 11.80% and a return on equity of 49.29%. The firm had revenue of $163.90 million during the quarter, compared to analysts’ expectations of $168.23 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. Analysts anticipate that Core Laboratories N.V. will post $2.09 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Core Laboratories N.V. by 33.4% in the first quarter. Parallel Advisors LLC now owns 891 shares of the oil and gas company’s stock worth $101,000 after buying an additional 223 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Core Laboratories N.V. during the first quarter worth about $106,000. The Manufacturers Life Insurance Company raised its stake in Core Laboratories N.V. by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock worth $114,000 after buying an additional 439 shares during the last quarter. Advisory Services Network LLC acquired a new stake in Core Laboratories N.V. during the first quarter worth about $118,000. Finally, FNY Managed Accounts LLC acquired a new stake in Core Laboratories N.V. during the first quarter worth about $123,000.
About Core Laboratories N.V.
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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