Core Laboratories N.V. (CLB) Upgraded to “Outperform” by Credit Suisse Group
Core Laboratories N.V. (NYSE:CLB) was upgraded by stock analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued to investors on Thursday, Marketbeat reports. The analysts noted that the move was a valuation call.
A number of other analysts also recently commented on the company. Piper Jaffray Companies set a $97.00 price objective on Core Laboratories N.V. and gave the stock a “hold” rating in a research report on Wednesday, July 26th. BidaskClub downgraded Core Laboratories N.V. from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Morgan Stanley reiterated an “overweight” rating and issued a $130.00 price objective (down previously from $150.00) on shares of Core Laboratories N.V. in a research report on Wednesday, June 21st. Citigroup Inc. reduced their price objective on Core Laboratories N.V. from $102.00 to $100.00 and set a “neutral” rating for the company in a research report on Wednesday, July 26th. Finally, Zacks Investment Research downgraded Core Laboratories N.V. from a “hold” rating to a “strong sell” rating in a research report on Monday, July 17th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Core Laboratories N.V. has an average rating of “Hold” and a consensus target price of $117.17.
Shares of Core Laboratories N.V. (NYSE:CLB) traded down 1.19% during trading on Thursday, reaching $89.08. 471,351 shares of the company’s stock traded hands. Core Laboratories N.V. has a 1-year low of $87.83 and a 1-year high of $125.83. The company has a 50 day moving average price of $99.16 and a 200 day moving average price of $107.09. The stock has a market capitalization of $3.93 billion, a PE ratio of 54.65 and a beta of 1.60.
Core Laboratories N.V. (NYSE:CLB) last announced its quarterly earnings data on Monday, July 24th. The oil and gas company reported $0.52 EPS for the quarter, topping 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 company had revenue of $163.90 million during the quarter, compared to the consensus estimate of $168.23 million. During the same quarter last year, the company earned $0.35 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Core Laboratories N.V. will post $2.09 EPS for the current fiscal year.
Several institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC increased its position in Core Laboratories N.V. by 33.4% in the first quarter. Parallel Advisors LLC now owns 891 shares of the oil and gas company’s stock valued at $101,000 after buying an additional 223 shares during the period. Quantbot Technologies LP bought a new position in Core Laboratories N.V. during the first quarter valued at approximately $106,000. Advisory Services Network LLC bought a new position in Core Laboratories N.V. during the first quarter valued at approximately $118,000. FNY Managed Accounts LLC bought a new position in Core Laboratories N.V. during the first quarter valued at approximately $123,000. Finally, The Manufacturers Life Insurance Company increased its position in Core Laboratories N.V. by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock valued at $114,000 after buying an additional 439 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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