Core Laboratories N.V. (CLB) Given Average Rating of “Hold” by Analysts
Shares of Core Laboratories N.V. (NYSE:CLB) have been given an average recommendation of “Hold” by the seventeen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $113.36.
CLB has been the topic of several analyst reports. Piper Jaffray Companies set a $97.00 price target on Core Laboratories N.V. and gave the company a “hold” rating in a research report on Wednesday, July 26th. Citigroup Inc. decreased their price target on Core Laboratories N.V. from $102.00 to $100.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 26th. ValuEngine upgraded Core Laboratories N.V. from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Royal Bank Of Canada set a $145.00 price target on Core Laboratories N.V. and gave the company a “buy” rating in a research report on Saturday, June 17th. Finally, Zacks Investment Research cut Core Laboratories N.V. from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd.
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Institutional investors and hedge funds have recently modified their holdings of the business. Parallel Advisors LLC boosted its stake 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 worth $101,000 after buying an additional 223 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Core Laboratories N.V. in the first quarter worth approximately $106,000. The Manufacturers Life Insurance Company boosted its stake 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 worth $114,000 after buying an additional 439 shares in the last quarter. FNY Managed Accounts LLC purchased a new stake in Core Laboratories N.V. in the first quarter worth approximately $123,000. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Core Laboratories N.V. in the second quarter worth approximately $134,000.
Shares of Core Laboratories N.V. (CLB) traded up 0.10% during midday trading on Friday, reaching $91.18. 456,001 shares of the company’s stock were exchanged. Core Laboratories N.V. has a 12 month low of $86.55 and a 12 month high of $125.83. The firm has a 50 day moving average price of $94.24 and a 200 day moving average price of $105.02. The company has a market cap of $4.02 billion, a P/E ratio of 55.94 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 earnings per share for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $168.23 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that Core Laboratories N.V. will post $2.04 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Monday, July 17th were paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, July 13th. Core Laboratories N.V.’s dividend payout ratio is currently 134.15%.
About Core Laboratories N.V.
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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