Zacks Investment Research downgraded shares of Core Laboratories (NYSE:CLB) from a buy rating to a hold rating in a report published on Wednesday.

According to Zacks, “We like Core Labs’ 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. In fact, the existing tight oil price scenario have made CLB's services even more important for energy companies that look to utilize every dollar that they spend. However, the paucity of deepwater drilling orders and lower levels of new wells, which will hamper the specialized service provider’s near-term results, are concerns that keep us on the sidelines.”

A number of other research firms have also recently commented on CLB. ABN Amro cut Core Laboratories from a buy rating to a hold rating in a report on Tuesday, January 9th. Cowen set a $98.00 price target on Core Laboratories and gave the stock a hold rating in a report on Friday, April 13th. Royal Bank of Canada set a $125.00 price target on Core Laboratories and gave the stock a buy rating in a report on Tuesday, January 30th. Deutsche Bank cut Core Laboratories from a buy rating to a hold rating and lowered their target price for the stock from $116.30 to $109.00 in a report on Thursday, January 11th. Finally, ValuEngine raised Core Laboratories from a sell rating to a hold rating in a report on Wednesday, April 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $112.99.

Core Laboratories stock opened at $121.50 on Wednesday. The company has a quick ratio of 1.66, a current ratio of 1.98 and a debt-to-equity ratio of 1.53. Core Laboratories has a 52 week low of $86.55 and a 52 week high of $122.78. The firm has a market cap of $5,365.93, a PE ratio of 60.75 and a beta of 1.41.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. Core Laboratories had a return on equity of 58.25% and a net margin of 12.60%. The company had revenue of $172.00 million during the quarter, compared to analysts’ expectations of $171.92 million. During the same quarter in the previous year, the firm earned $0.41 EPS. Core Laboratories’s revenue was up 15.1% on a year-over-year basis. research analysts forecast that Core Laboratories will post 2.7 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 22nd. Shareholders of record on Friday, April 27th will be issued a $0.55 dividend. The ex-dividend date is Thursday, April 26th. This represents a $2.20 dividend on an annualized basis and a yield of 1.81%. Core Laboratories’s payout ratio is presently 110.00%.

A number of institutional investors and hedge funds have recently modified their holdings of CLB. The Manufacturers Life Insurance Company grew its position in shares of Core Laboratories by 63.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 439 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Core Laboratories by 60.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,096 shares of the oil and gas company’s stock valued at $120,000 after buying an additional 414 shares during the last quarter. Captrust Financial Advisors bought a new stake in shares of Core Laboratories in the 4th quarter valued at about $139,000. Teachers Advisors LLC grew its position in shares of Core Laboratories by 56.6% in the 4th quarter. Teachers Advisors LLC now owns 1,779 shares of the oil and gas company’s stock valued at $195,000 after buying an additional 643 shares during the last quarter. Finally, Callahan Advisors LLC bought a new stake in shares of Core Laboratories in the 4th quarter valued at about $201,000.

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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. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises 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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