Core Laboratories (NYSE:CLB) Raised to Hold at StockNews.com

Core Laboratories (NYSE:CLB) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Friday.

Several other brokerages also recently commented on CLB. Bank of America cut their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Piper Sandler dropped their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. Finally, Stifel Nicolaus boosted their target price on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $18.50.

Core Laboratories Stock Down 0.6 %

Shares of NYSE CLB traded down $0.15 during trading on Friday, reaching $24.21. The company had a trading volume of 519,835 shares, compared to its average volume of 455,913. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $27.94. The company has a quick ratio of 1.85, a current ratio of 2.68 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average is $19.88 and its 200 day moving average is $17.44. The stock has a market cap of $1.14 billion, a PE ratio of 27.51, a P/E/G ratio of 1.39 and a beta of 2.41.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.42%. Core Laboratories’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.23 EPS. As a group, equities analysts forecast that Core Laboratories will post 0.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Laboratories

Several hedge funds and other institutional investors have recently made changes to their positions in CLB. Ballentine Partners LLC bought a new stake in shares of Core Laboratories during the 4th quarter valued at $288,000. Louisiana State Employees Retirement System bought a new stake in shares of Core Laboratories in the 4th quarter worth about $413,000. Illinois Municipal Retirement Fund boosted its holdings in Core Laboratories by 10.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 27,921 shares of the oil and gas company’s stock valued at $493,000 after acquiring an additional 2,641 shares during the period. GAMMA Investing LLC purchased a new stake in Core Laboratories in the 4th quarter valued at about $48,000. Finally, State of New Jersey Common Pension Fund D lifted its holdings in shares of Core Laboratories by 33.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 138,951 shares of the oil and gas company’s stock worth $2,454,000 after buying an additional 34,765 shares during the period. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Company Profile

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.