Core Laboratories (NYSE: CLB) recently received a number of ratings updates from brokerages and research firms:

  • 10/17/2018 – Core Laboratories is now covered by analysts at Bank of America Corp. They set a “neutral” rating on the stock.
  • 10/12/2018 – Core Laboratories was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Core Laboratories' technology-heavy portfolio of proprietary products and services gives it the opportunity to optimize production from new and existing fields. Furthermore, the company's low asset intensive operations and limited capital expenditure needs allow it to generate substantial free cash flows, the bulk of which it returns to investors via dividends and stock buybacks. With energy companies looking to utilize every dollar that they spend, Core Labs' services have become even more important for energy companies. However, deferred international activities, especially in the Middle East and Asia-Pacific regions, have been impacting revenues in the Reservoir Description unit. To make things worse, the company anticipates sluggishness in the overseas segment to continue in the third quarter as well. The interplay of all these factors forms the basis of the cautious stance on the prospects of the stock.”
  • 10/11/2018 – Core Laboratories was given a new $115.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 10/10/2018 – Core Laboratories is now covered by analysts at Wolfe Research. They set an “underperform” rating on the stock.
  • 10/5/2018 – Core Laboratories was given a new $95.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 9/26/2018 – Core Laboratories was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/18/2018 – Core Laboratories is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $125.00 price target on the stock.
  • 9/17/2018 – Core Laboratories had its price target raised by analysts at JPMorgan Chase & Co. from $118.00 to $121.00. They now have an “overweight” rating on the stock.
  • 9/14/2018 – Core Laboratories was given a new $116.00 price target on by analysts at Citigroup Inc. They now have a “hold” rating on the stock.
  • 9/10/2018 – Core Laboratories is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $117.00 price target on the stock.
  • 9/4/2018 – Core Laboratories was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/4/2018 – Core Laboratories is now covered by analysts at Edward Jones. They set a “buy” rating on the stock.

Shares of CLB opened at $103.77 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.24 and a quick ratio of 1.85. Core Laboratories has a 52-week low of $87.66 and a 52-week high of $130.34. The company has a market capitalization of $4.72 billion, a P/E ratio of 51.89, a price-to-earnings-growth ratio of 3.72 and a beta of 1.46.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. Core Laboratories had a return on equity of 64.13% and a net margin of 13.32%. The business had revenue of $175.48 million during the quarter, compared to analyst estimates of $174.47 million. During the same period in the previous year, the firm earned $0.51 EPS. Core Laboratories’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts forecast that Core Laboratories will post 2.39 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, October 19th will be given a $0.55 dividend. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $2.20 annualized dividend and a dividend yield of 2.12%. Core Laboratories’s dividend payout ratio is presently 110.00%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Citizens Bank & Trust Co. boosted its position in Core Laboratories by 36.0% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 2,945 shares of the oil and gas company’s stock worth $341,000 after acquiring an additional 780 shares during the last quarter. Aperio Group LLC boosted its position in Core Laboratories by 5.7% during the 3rd quarter. Aperio Group LLC now owns 23,338 shares of the oil and gas company’s stock worth $2,703,000 after acquiring an additional 1,268 shares during the last quarter. Welch & Forbes LLC acquired a new position in Core Laboratories during the 3rd quarter worth approximately $210,000. Forte Capital LLC ADV boosted its position in Core Laboratories by 18.4% during the 3rd quarter. Forte Capital LLC ADV now owns 20,081 shares of the oil and gas company’s stock worth $2,325,000 after acquiring an additional 3,125 shares during the last quarter. Finally, Personal Capital Advisors Corp acquired a new position in Core Laboratories during the 3rd quarter worth approximately $375,000.

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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