Core Laboratories (NYSE:CLB) Upgraded by StockNews.com to Hold

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 research report issued on Monday.

Several other analysts have also recently commented on the stock. Piper Sandler decreased their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, July 15th. Bank of America decreased their price objective on Core Laboratories from $16.00 to $15.00 and set an "underperform" rating for the company in a report on Monday, July 15th. Finally, Stifel Nicolaus raised their target price on Core Laboratories from $18.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.00.

Core Laboratories Stock Performance

Shares of NYSE:CLB traded down $0.26 on Monday, hitting $19.17. 239,649 shares of the company were exchanged, compared to its average volume of 433,101. The company has a current ratio of 2.39, a quick ratio of 1.68 and a debt-to-equity ratio of 0.60. The stock's 50 day moving average price is $18.53 and its 200 day moving average price is $19.00. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13. The firm has a market capitalization of $899.07 million, a P/E ratio of 21.78, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.04. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. 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 previous year, the firm posted $0.22 EPS. The firm's revenue was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Core Laboratories will post 0.8 EPS for the current year.

Hedge Funds Weigh In On Core Laboratories

Hedge funds have recently made changes to their positions in the company. Congress Wealth Management LLC DE raised its stake in Core Laboratories by 40.8% in the 1st quarter. Congress Wealth Management LLC DE now owns 183,282 shares of the oil and gas company's stock valued at $3,130,000 after purchasing an additional 53,090 shares during the last quarter. Norden Group LLC purchased a new position in shares of Core Laboratories in the first quarter worth about $394,000. Van ECK Associates Corp boosted its position in Core Laboratories by 9.0% during the first quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company's stock worth $10,915,000 after acquiring an additional 52,639 shares during the last quarter. GSA Capital Partners LLP grew its stake in Core Laboratories by 177.0% during the 1st quarter. GSA Capital Partners LLP now owns 38,827 shares of the oil and gas company's stock valued at $663,000 after acquiring an additional 24,812 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Core Laboratories by 39.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 14,137 shares of the oil and gas company's stock valued at $241,000 after acquiring an additional 4,000 shares during the last quarter. Institutional investors and hedge funds own 97.81% of the company's stock.

Core Laboratories Company Profile

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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