Core Laboratories (NYSE:CLB) Upgraded at ValuEngine

ValuEngine upgraded shares of Core Laboratories (NYSE:CLB) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, ValuEngine reports.

Other research analysts also recently issued reports about the stock. 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 research report on Wednesday, July 10th. Citigroup cut their target price on shares of Core Laboratories from $54.00 to $51.00 and set a neutral rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada set a $77.00 target price on shares of Core Laboratories and gave the company a buy rating in a research report on Wednesday, June 26th. Piper Jaffray Companies set a $52.00 target price on shares of Core Laboratories and gave the company a hold rating in a research report on Wednesday, June 26th. Finally, 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 research report on Friday, July 12th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Core Laboratories currently has an average rating of Hold and a consensus price target of $74.42.

Core Laboratories stock traded down $1.50 during trading hours on Wednesday, reaching $43.67. 749,973 shares of the company’s stock traded hands, compared to its average volume of 634,932. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.41 and a current ratio of 1.80. Core Laboratories has a fifty-two week low of $36.61 and a fifty-two week high of $120.35. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 4.71 and a beta of 1.97. The firm’s 50 day moving average is $43.18 and its 200-day moving average is $53.52.

Core Laboratories (NYSE:CLB) last released its earnings results 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 company had revenue of $169.04 million for the quarter, compared to the consensus estimate of $173.46 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. Analysts predict that Core Laboratories will post 1.75 EPS for the current year.

In related news, Director Gregory Barry Barnett purchased 1,000 shares of the stock in a transaction dated Tuesday, August 13th. The stock was bought at an average cost of $40.00 per share, with a total value of $40,000.00. Following the purchase, the director now directly owns 11,000 shares in the company, valued at approximately $440,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Marshall Wace LLP bought a new stake in Core Laboratories during the 1st quarter worth approximately $30,000. NEXT Financial Group Inc bought a new stake in Core Laboratories during the 2nd quarter worth approximately $31,000. Stonebridge Capital Advisors LLC bought a new stake in Core Laboratories during the 2nd quarter worth approximately $31,000. Griffin Asset Management Inc. bought a new stake in Core Laboratories during the 2nd quarter worth approximately $31,000. Finally, HM Payson & Co. bought a new stake in Core Laboratories during the 2nd quarter worth approximately $49,000.

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. 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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Analyst Recommendations for Core Laboratories (NYSE:CLB)

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