Morgan Stanley Lowers Core Laboratories N.V. (CLB) Price Target to $125.00
Core Laboratories N.V. (NYSE:CLB) had its price target reduced by investment analysts at Morgan Stanley from $130.00 to $125.00 in a research report issued to clients and investors on Monday. The brokerage presently has an “overweight” rating on the oil and gas company’s stock. Morgan Stanley’s price target would indicate a potential upside of 22.60% from the company’s current price.
CLB has been the topic of a number of other reports. Loop Capital raised Core Laboratories N.V. from a “hold” rating to a “buy” rating and lifted their price target for the company from $125.00 to $130.00 in a research note on Friday, April 21st. Zacks Investment Research lowered Core Laboratories N.V. from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. BidaskClub raised Core Laboratories N.V. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 5th. ABN Amro raised Core Laboratories N.V. to a “hold” rating in a research note on Friday, April 21st. Finally, UBS AG reissued a “neutral” rating and set a $110.00 price target (down from $125.00) on shares of Core Laboratories N.V. in a research note on Wednesday, July 26th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.17.
Shares of Core Laboratories N.V. (CLB) traded down 0.59% during mid-day trading on Monday, reaching $101.36. The company’s stock had a trading volume of 35,475 shares. Core Laboratories N.V. has a 12 month low of $96.30 and a 12 month high of $125.83. The company has a 50-day moving average of $102.90 and a 200-day moving average of $109.93. The firm has a market cap of $4.47 billion, a PE ratio of 62.18 and a beta of 1.60.
Core Laboratories N.V. (NYSE:CLB) last announced its quarterly earnings results on Monday, July 24th. The oil and gas company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. Core Laboratories N.V. had a return on equity of 49.29% and a net margin of 11.80%. The firm had revenue of $163.90 million for the quarter, compared to analyst estimates of $168.23 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts predict that Core Laboratories N.V. will post $2.10 earnings per share for the current year.
Several institutional investors have recently modified their holdings of the company. Virginia Retirement Systems ET AL bought a new position in shares of Core Laboratories N.V. during the second quarter worth about $3,798,000. Torray LLC increased its position in shares of Core Laboratories N.V. by 13.7% in the second quarter. Torray LLC now owns 4,394 shares of the oil and gas company’s stock worth $445,000 after buying an additional 528 shares during the period. BB&T Securities LLC increased its position in shares of Core Laboratories N.V. by 38.3% in the second quarter. BB&T Securities LLC now owns 18,567 shares of the oil and gas company’s stock worth $1,880,000 after buying an additional 5,146 shares during the period. Blair William & Co. IL increased its position in shares of Core Laboratories N.V. by 24.8% in the second quarter. Blair William & Co. IL now owns 7,001 shares of the oil and gas company’s stock worth $709,000 after buying an additional 1,393 shares during the period. Finally, WCM Investment Management CA increased its position in shares of Core Laboratories N.V. by 7.3% in the second quarter. WCM Investment Management CA now owns 4,433,175 shares of the oil and gas company’s stock worth $448,948,000 after buying an additional 303,073 shares during the period.
Core Laboratories N.V. Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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