Deutsche Bank Lowers Core Laboratories (CLB) to Hold
Deutsche Bank cut shares of Core Laboratories (NYSE:CLB) from a buy rating to a hold rating in a report issued on Thursday morning. They currently have $109.00 price objective on the oil and gas company’s stock, down from their prior price objective of $116.30.
A number of other research analysts also recently commented on the company. Royal Bank of Canada restated a buy rating on shares of Core Laboratories in a research note on Wednesday, October 18th. ABN Amro upgraded Core Laboratories from a hold rating to a buy rating in a research note on Wednesday, October 25th. Loop Capital lowered their price objective on Core Laboratories from $125.00 to $115.00 and set a buy rating for the company in a research note on Wednesday, October 25th. Scotiabank set a $136.00 price objective on Core Laboratories and gave the stock a hold rating in a research note on Wednesday, October 25th. Finally, Piper Jaffray Companies set a $97.00 price objective on Core Laboratories and gave the stock a hold rating in a research note on Monday, October 23rd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $110.20.
Shares of Core Laboratories (NYSE CLB) traded up $0.11 during midday trading on Thursday, hitting $119.10. The stock had a trading volume of 318,200 shares, compared to its average volume of 433,022. Core Laboratories has a 1-year low of $86.55 and a 1-year high of $124.99. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 1.53. The company has a market cap of $5,260.00, a P/E ratio of 68.84 and a beta of 1.56.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Core Laboratories had a return on equity of 52.89% and a net margin of 12.06%. The business had revenue of $166.20 million during the quarter, compared to the consensus estimate of $160.94 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s quarterly revenue was up 1.4% on a year-over-year basis. research analysts forecast that Core Laboratories will post 1.99 EPS for the current year.
A number of institutional investors and hedge funds have recently modified their holdings of CLB. Schwab Charles Investment Management Inc. grew its stake in shares of Core Laboratories by 6.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 139,549 shares of the oil and gas company’s stock worth $14,133,000 after purchasing an additional 8,774 shares in the last quarter. CIBC World Markets Inc. bought a new position in shares of Core Laboratories in the second quarter worth $223,000. Eaton Vance Management grew its stake in shares of Core Laboratories by 46.4% in the second quarter. Eaton Vance Management now owns 21,852 shares of the oil and gas company’s stock worth $2,213,000 after purchasing an additional 6,924 shares in the last quarter. Alliancebernstein L.P. grew its stake in shares of Core Laboratories by 18.0% in the second quarter. Alliancebernstein L.P. now owns 2,942 shares of the oil and gas company’s stock worth $298,000 after purchasing an additional 448 shares in the last quarter. Finally, GRT Capital Partners L.L.C. bought a new position in shares of Core Laboratories in the second quarter worth $644,000.
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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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