Core Laboratories (CLB) Stock Rating Lowered by ABN Amro
ABN Amro cut shares of Core Laboratories (NYSE:CLB) from a buy rating to a hold rating in a research report sent to investors on Tuesday, Marketbeat.com reports.
Several other brokerages have also weighed in on CLB. Royal Bank of Canada set a $110.00 price objective on Core Laboratories and gave the company a buy rating in a report on Thursday, December 21st. Zacks Investment Research lowered Core Laboratories from a hold rating to a sell rating in a report on Tuesday, November 7th. Loop Capital set a $115.00 price objective on Core Laboratories and gave the company a buy rating in a report on Thursday, December 7th. Deutsche Bank assumed coverage on Core Laboratories in a report on Tuesday, October 10th. They set a buy rating and a $109.00 price objective for the company. Finally, Cowen set a $100.00 price objective on Core Laboratories and gave the company a hold rating in a report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $110.20.
Core Laboratories (NYSE CLB) traded up $0.11 during mid-day trading on Tuesday, hitting $119.10. The stock had a trading volume of 318,286 shares, compared to its average volume of 576,613. The company has a market capitalization of $5,260.00, a price-to-earnings ratio of 68.84 and a beta of 1.56. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 1.53. Core Laboratories has a 52 week low of $86.55 and a 52 week high of $124.99.
Core Laboratories (NYSE:CLB) last released its earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.04. The company had revenue of $166.20 million during the quarter, compared to analyst estimates of $160.94 million. Core Laboratories had a return on equity of 52.89% and a net margin of 12.06%. Core Laboratories’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 earnings per share. equities research analysts anticipate that Core Laboratories will post 1.99 earnings per share for the current year.
Institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of Core Laboratories in the second quarter worth $474,000. Goldman Sachs Group Inc. boosted its holdings in shares of Core Laboratories by 30.5% in the second quarter. Goldman Sachs Group Inc. now owns 89,829 shares of the oil and gas company’s stock worth $9,096,000 after acquiring an additional 21,006 shares during the period. Marble Harbor Investment Counsel LLC boosted its holdings in shares of Core Laboratories by 4.9% in the third quarter. Marble Harbor Investment Counsel LLC now owns 10,976 shares of the oil and gas company’s stock worth $1,083,000 after acquiring an additional 510 shares during the period. Nomura Holdings Inc. bought a new position in shares of Core Laboratories in the second quarter worth $426,000. Finally, HighTower Advisors LLC boosted its holdings in shares of Core Laboratories by 13.5% in the second quarter. HighTower Advisors LLC now owns 10,869 shares of the oil and gas company’s stock worth $1,102,000 after acquiring an additional 1,290 shares during the period.
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Core Laboratories Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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