Core Laboratories (NYSE:CLB) Receives $75.55 Consensus Target Price from Analysts
Core Laboratories (NYSE:CLB) has been assigned an average recommendation of “Hold” from the seventeen analysts that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $75.55.
CLB has been the subject of a number of recent research reports. Piper Jaffray Companies set a $52.00 price objective on shares of Core Laboratories and gave the company a “hold” rating in a report on Wednesday, June 26th. Bank of America raised shares of Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Wednesday, July 10th. Royal Bank of Canada set a $77.00 target price on shares of Core Laboratories and gave the stock a “buy” rating in a report on Wednesday, June 26th. ValuEngine downgraded shares of Core Laboratories from a “sell” rating to a “strong sell” rating in a research report on Monday, July 29th. Finally, Morgan Stanley cut their price target on Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating for the company in a research note on Friday, July 12th.
In other news, Director Gregory Barry Barnett acquired 1,000 shares of Core Laboratories stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $40.00 per share, for a total transaction of $40,000.00. Following the completion of the purchase, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $440,000. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.
Shares of Core Laboratories stock traded up $0.71 during trading on Thursday, reaching $45.45. The company’s stock had a trading volume of 551,358 shares, compared to its average volume of 627,599. The business’s 50-day moving average price is $42.76 and its 200-day moving average price is $55.75. The firm has a market cap of $1.91 billion, a PE ratio of 19.93, a P/E/G ratio of 4.61 and a beta of 1.95. Core Laboratories has a 52 week low of $36.61 and a 52 week high of $122.11. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 1.83.
Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.46 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.46. Core Laboratories had a net margin of 14.30% and a return on equity of 51.19%. The business had revenue of $169.04 million for the quarter, compared to the consensus estimate of $173.46 million. During the same period in the prior year, the company posted $0.59 earnings per share. Core Laboratories’s revenue was down 3.7% compared to the same quarter last year. Equities analysts predict that Core Laboratories will post 1.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Investors of record on Monday, July 22nd were given a dividend of $0.55 per share. The ex-dividend date was Friday, July 19th. This represents a $2.20 annualized dividend and a yield of 4.84%. Core Laboratories’s dividend payout ratio is 96.49%.
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. 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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