Core Laboratories (NYSE:CLB) Price Target Lowered to $51.00 at Citigroup

Core Laboratories (NYSE:CLB) had its target price decreased by Citigroup from $54.00 to $51.00 in a report released on Wednesday morning, BenzingaRatingsTable reports. Citigroup currently has a neutral rating on the oil and gas company’s stock.

A number of other equities analysts have also recently issued reports on CLB. Royal Bank of Canada set a $77.00 price objective on shares of Core Laboratories and gave the company a buy rating in a research note on Wednesday, June 26th. ValuEngine lowered shares of Core Laboratories from a sell rating to a strong sell rating in a report on Monday, July 29th. Bank of America upgraded shares of Core Laboratories from a neutral rating to a buy rating and set a $63.00 target price on the stock in a report on Wednesday, July 10th. Morgan Stanley cut their target price on shares of Core Laboratories from $75.00 to $70.00 and set an equal weight rating on the stock in a report on Friday, July 12th. Finally, Piper Jaffray Companies set a $52.00 target price on shares of Core Laboratories and gave the stock a hold rating in a report on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Core Laboratories presently has a consensus rating of Hold and an average target price of $74.42.

CLB stock traded up $0.03 during midday trading on Wednesday, reaching $46.98. The company’s stock had a trading volume of 570,000 shares, compared to its average volume of 628,177. Core Laboratories has a 52 week low of $36.61 and a 52 week high of $122.11. The stock has a market cap of $1.98 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 4.79 and a beta of 1.95. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 1.83. The business’s 50-day simple moving average is $42.59 and its 200-day simple moving average is $55.66.



Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.46. Core Laboratories had a net margin of 14.30% and a return on equity of 51.19%. The firm had revenue of $169.04 million for the quarter, compared to analysts’ expectations of $173.46 million. During the same period last year, the firm earned $0.59 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, equities analysts forecast that Core Laboratories will post 1.75 earnings per share for the current fiscal year.

In other Core Laboratories news, Director Gregory Barry Barnett purchased 1,000 shares of the stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost of $40.00 per share, for a total transaction of $40,000.00. Following the purchase, the director now owns 11,000 shares of the company’s stock, valued at $440,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of CLB. Van ECK Associates Corp increased its stake in Core Laboratories by 129.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,272,774 shares of the oil and gas company’s stock valued at $66,541,000 after buying an additional 718,280 shares during the last quarter. Manning & Napier Group LLC increased its stake in Core Laboratories by 2,062.3% in the 2nd quarter. Manning & Napier Group LLC now owns 720,686 shares of the oil and gas company’s stock valued at $37,675,000 after buying an additional 687,356 shares during the last quarter. Earnest Partners LLC increased its stake in Core Laboratories by 19.5% in the 2nd quarter. Earnest Partners LLC now owns 2,308,539 shares of the oil and gas company’s stock valued at $120,690,000 after buying an additional 377,223 shares during the last quarter. Granite Investment Partners LLC acquired a new stake in Core Laboratories in the 2nd quarter valued at $13,923,000. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Core Laboratories by 12.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,553,960 shares of the oil and gas company’s stock valued at $107,115,000 after buying an additional 170,124 shares during the last quarter.

About Core Laboratories

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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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