Core Laboratories N.V. (NYSE:CLB) Price Target Cut to $100.00
Core Laboratories N.V. (NYSE:CLB) had its price target trimmed by Citigroup Inc. from $102.00 to $100.00 in a research note issued to investors on Wednesday. The brokerage currently has a neutral rating on the oil and gas company’s stock.
CLB has been the topic of several other reports. Loop Capital upgraded Core Laboratories N.V. from a hold rating to a buy rating and lifted their price target for the company from $125.00 to $130.00 in a research report on Friday, April 21st. Zacks Investment Research lowered Core Laboratories N.V. from a buy rating to a hold rating in a research report on Friday, June 23rd. BidaskClub upgraded Core Laboratories N.V. from a sell rating to a hold rating in a research report on Wednesday, July 5th. ABN Amro upgraded Core Laboratories N.V. to a hold rating in a research report on Friday, April 21st. Finally, Morgan Stanley restated an overweight rating and set a $130.00 price target (down from $150.00) on shares of Core Laboratories N.V. in a research report on Wednesday, June 21st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company’s stock. Core Laboratories N.V. currently has a consensus rating of Hold and an average price target of $117.58.
Shares of Core Laboratories N.V. (NYSE:CLB) traded up 3.28% during trading on Wednesday, hitting $101.71. The stock had a trading volume of 785,825 shares. The firm has a 50 day moving average price of $103.24 and a 200-day moving average price of $110.40. Core Laboratories N.V. has a 52 week low of $96.30 and a 52 week high of $125.83. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 62.40 and a beta of 1.60.
Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Core Laboratories N.V. had a return on equity of 49.29% and a net margin of 11.80%. The company had revenue of $163.90 million for the quarter, compared to analyst estimates of $168.23 million. During the same period in the previous year, the company posted $0.35 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that Core Laboratories N.V. will post $2.11 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, July 17th will be issued a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Thursday, July 13th. Core Laboratories N.V.’s payout ratio is currently 134.15%.
Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in shares of Core Laboratories N.V. by 33.4% in the first quarter. Parallel Advisors LLC now owns 891 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 223 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Core Laboratories N.V. during the first quarter valued at approximately $106,000. Advisory Services Network LLC purchased a new stake in shares of Core Laboratories N.V. during the first quarter valued at approximately $118,000. FNY Managed Accounts LLC purchased a new stake in shares of Core Laboratories N.V. during the first quarter valued at approximately $123,000. Finally, First Bank & Trust raised its stake in shares of Core Laboratories N.V. by 2.7% in the first quarter. First Bank & Trust now owns 1,411 shares of the oil and gas company’s stock valued at $163,000 after buying an additional 37 shares during the last quarter.
Core Laboratories N.V. 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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