Core Laboratories (CLB) Upgraded to “Buy” by Stifel Nicolaus

Stifel Nicolaus upgraded shares of Core Laboratories (NYSE:CLB) from a hold rating to a buy rating in a research note published on Monday morning, MarketBeat Ratings reports. They currently have $110.00 price objective on the oil and gas company’s stock, down from their previous price objective of $117.00.

Several other brokerages have also issued reports on CLB. Piper Jaffray Companies set a $95.00 target price on Core Laboratories and gave the company a hold rating in a research note on Friday, October 5th. Wolfe Research began coverage on Core Laboratories in a research note on Wednesday, October 10th. They issued an underperform rating on the stock. ABN Amro lowered Core Laboratories from a hold rating to a sell rating in a research note on Monday, July 2nd. ValuEngine upgraded Core Laboratories from a hold rating to a buy rating in a research note on Wednesday, September 26th. Finally, Edward Jones began coverage on Core Laboratories in a research note on Tuesday, September 4th. They issued a buy rating on the stock. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $111.36.

CLB stock opened at $84.02 on Monday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31. Core Laboratories has a 1-year low of $83.15 and a 1-year high of $130.34. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 42.01, a price-to-earnings-growth ratio of 2.41 and a beta of 1.46.



Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The business had revenue of $182.15 million for the quarter, compared to analysts’ expectations of $178.11 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The business’s revenue was up 11.8% on a year-over-year basis. As a group, research analysts predict that Core Laboratories will post 2.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, October 19th will be paid 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 2.62%. Core Laboratories’s payout ratio is presently 110.00%.

Several institutional investors and hedge funds have recently modified their holdings of CLB. Dimensional Fund Advisors LP raised its stake in shares of Core Laboratories by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 277,192 shares of the oil and gas company’s stock valued at $29,998,000 after purchasing an additional 8,287 shares during the period. UBS Group AG raised its stake in shares of Core Laboratories by 32.6% during the 1st quarter. UBS Group AG now owns 18,842 shares of the oil and gas company’s stock valued at $2,039,000 after purchasing an additional 4,629 shares during the period. LPL Financial LLC raised its stake in shares of Core Laboratories by 35.5% during the 1st quarter. LPL Financial LLC now owns 2,950 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 773 shares during the period. Guggenheim Capital LLC raised its stake in shares of Core Laboratories by 41.1% during the 1st quarter. Guggenheim Capital LLC now owns 16,190 shares of the oil and gas company’s stock valued at $1,751,000 after purchasing an additional 4,718 shares during the period. Finally, Atlantic Trust Group LLC raised its stake in shares of Core Laboratories by 13.5% during the 1st quarter. Atlantic Trust Group LLC now owns 4,045 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 480 shares during the period.

Core Laboratories Company Profile

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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Analyst Recommendations for Core Laboratories (NYSE:CLB)

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