Core Laboratories (NYSE:CLB) Price Target Cut to $16.00 by Analysts at Bank of America

Core Laboratories (NYSE:CLBGet Free Report) had its target price reduced by Bank of America from $17.00 to $16.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “underperform” rating on the oil and gas company’s stock. Bank of America‘s target price suggests a potential downside of 8.57% from the stock’s current price.

Several other analysts have also recently commented on the stock. Stifel Nicolaus decreased their price target on shares of Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a research note on Monday, February 5th. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, Core Laboratories currently has a consensus rating of “Hold” and an average target price of $18.50.

View Our Latest Stock Analysis on Core Laboratories

Core Laboratories Price Performance

CLB opened at $17.50 on Monday. Core Laboratories has a one year low of $13.82 and a one year high of $27.94. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. The company’s 50 day simple moving average is $15.87 and its 200-day simple moving average is $17.98. The stock has a market capitalization of $820.05 million, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 0.55 and a beta of 2.40.

Core Laboratories (NYSE:CLBGet Free Report) last released its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.01). Core Laboratories had a net margin of 8.03% and a return on equity of 15.19%. The company had revenue of $128.21 million for the quarter, compared to the consensus estimate of $127.80 million. During the same period last year, the company earned $0.23 earnings per share. Sell-side analysts anticipate that Core Laboratories will post 0.81 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Laboratories

Hedge funds have recently bought and sold shares of the company. Raymond James & Associates acquired a new stake in shares of Core Laboratories during the first quarter worth $1,980,000. US Bancorp DE raised its holdings in shares of Core Laboratories by 15.3% during the first quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock worth $188,000 after acquiring an additional 790 shares during the period. Citigroup Inc. raised its holdings in shares of Core Laboratories by 57.8% during the first quarter. Citigroup Inc. now owns 39,192 shares of the oil and gas company’s stock worth $1,240,000 after acquiring an additional 14,354 shares during the period. Rhumbline Advisers raised its holdings in shares of Core Laboratories by 9.4% during the first quarter. Rhumbline Advisers now owns 68,839 shares of the oil and gas company’s stock worth $2,177,000 after acquiring an additional 5,931 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Core Laboratories by 14.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 39,895 shares of the oil and gas company’s stock worth $1,262,000 after acquiring an additional 4,909 shares during the period. 97.81% of the stock is currently owned by institutional investors and hedge funds.

About Core Laboratories

(Get Free Report)

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.

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