Downgrades Core Laboratories (NYSE:CLB) to Sell

Core Laboratories (NYSE:CLBGet Free Report) was downgraded by research analysts at from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

CLB has been the subject of a number of other research reports. Stifel Nicolaus increased their price target on shares of Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a report on Friday, April 26th. Bank of America decreased their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday, April 15th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $18.75.

View Our Latest Research Report on CLB

Core Laboratories Price Performance

Shares of CLB stock traded up $0.27 during trading hours on Wednesday, hitting $20.89. The stock had a trading volume of 298,794 shares, compared to its average volume of 444,767. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.68 and a quick ratio of 1.85. The stock has a market capitalization of $979.74 million, a price-to-earnings ratio of 23.74, a PEG ratio of 1.30 and a beta of 2.41. Core Laboratories has a one year low of $13.82 and a one year high of $27.94. The stock’s 50-day moving average price is $18.44 and its two-hundred day moving average price is $16.99.

Core Laboratories (NYSE:CLBGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.02. The business had revenue of $129.64 million for the quarter, compared to analysts’ expectations of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. Equities analysts forecast that Core Laboratories will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CLB. Ariel Investments LLC increased its holdings in Core Laboratories by 20.4% during the 1st quarter. Ariel Investments LLC now owns 10,825,657 shares of the oil and gas company’s stock worth $184,902,000 after purchasing an additional 1,837,258 shares during the period. Vanguard Group Inc. grew its position in shares of Core Laboratories by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock worth $92,096,000 after buying an additional 27,701 shares in the last quarter. Congress Asset Management Co. MA increased its stake in shares of Core Laboratories by 17.6% during the first quarter. Congress Asset Management Co. MA now owns 1,606,745 shares of the oil and gas company’s stock valued at $27,443,000 after buying an additional 240,989 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Core Laboratories by 21.6% in the fourth quarter. Fisher Asset Management LLC now owns 754,407 shares of the oil and gas company’s stock valued at $13,323,000 after acquiring an additional 134,227 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Core Laboratories by 9.0% in the first quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company’s stock worth $10,915,000 after acquiring an additional 52,639 shares during the period. 97.81% of the stock is currently owned by institutional investors.

About Core Laboratories

(Get Free Report)

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.

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