Core Laboratories (NYSE:CLB - Get Free Report) was upgraded by research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Thursday.
A number of other equities research analysts also recently weighed in on CLB. Stifel Nicolaus upped their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the company a "hold" rating in a report on Friday, July 26th. Bank of America reduced their target price on shares of Core Laboratories from $16.00 to $15.00 and set an "underperform" rating for the company in a report on Monday, July 15th. Piper Sandler dropped their price target on Core Laboratories from $18.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, July 15th. Finally, Citigroup cut their price objective on Core Laboratories from $15.00 to $14.00 and set a "sell" rating for the company in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $17.00.
Check Out Our Latest Stock Analysis on CLB
Core Laboratories Stock Performance
Core Laboratories stock traded down $0.76 during midday trading on Thursday, reaching $20.85. 397,998 shares of the stock traded hands, compared to its average volume of 428,776. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. The firm has a market cap of $978.91 million, a price-to-earnings ratio of 32.40, a PEG ratio of 1.35 and a beta of 2.35. The firm has a fifty day moving average price of $18.68 and a two-hundred day moving average price of $19.10.
Core Laboratories (NYSE:CLB - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The company had revenue of $134.40 million during the quarter, compared to analysts' expectations of $134.16 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Core Laboratories will post 0.77 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of CLB. Headlands Technologies LLC bought a new position in shares of Core Laboratories in the 2nd quarter valued at approximately $36,000. nVerses Capital LLC bought a new position in shares of Core Laboratories in the third quarter valued at approximately $48,000. GAMMA Investing LLC lifted its stake in shares of Core Laboratories by 23.9% in the second quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company's stock worth $90,000 after buying an additional 855 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Core Laboratories by 11.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company's stock worth $114,000 after buying an additional 600 shares during the period. Finally, Platinum Investment Management Ltd. grew its stake in Core Laboratories by 13.9% in the 1st quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company's stock valued at $108,000 after buying an additional 774 shares during the last quarter. Institutional investors own 97.81% of the company's stock.
About Core Laboratories
(
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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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