Core Laboratories N.V. (NYSE:CLB) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Core Laboratories boasts of a unique business model, disciplined financial management and technological expertise. We also like CLB's leadership position in the reservoir optimization niche, along with its global footprint and deep portfolio of proprietary products and services. CLB’s low asset intensive operations and limited capex needs allow it to generate substantial free cash flows and operate profitably even in this low commodity price environment. However, we are concerned of the company’s high leverage and paucity of deepwater drilling orders which might hamper the specialized service provider’s near-term results. Therefore, until the commodity price environment improves, we take a cautious stance on the prospects of the stock.”

Several other research firms also recently issued reports on CLB. Piper Jaffray Companies set a $97.00 price target on Core Laboratories N.V. and gave the company a “hold” rating in a research note on Wednesday, July 26th. ValuEngine raised Core Laboratories N.V. from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Citigroup Inc. dropped 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 note on Wednesday, July 26th. 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 note on Saturday, June 17th. Finally, BidaskClub raised Core Laboratories N.V. from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. Core Laboratories N.V. has a consensus rating of “Hold” and an average target price of $110.91.

Shares of Core Laboratories N.V. (NYSE CLB) traded up 0.54% on Wednesday, reaching $96.57. The company’s stock had a trading volume of 197,785 shares. Core Laboratories N.V. has a 52-week low of $86.55 and a 52-week high of $125.83. The company has a 50 day moving average price of $94.14 and a 200 day moving average price of $102.43. The company has a market cap of $4.26 billion, a P/E ratio of 59.25 and a beta of 1.64.

Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings results on Monday, July 24th. The oil and gas company reported $0.52 earnings per share (EPS) 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 the consensus estimate of $168.23 million. During the same quarter last year, the business posted $0.35 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, analysts anticipate that Core Laboratories N.V. will post $1.98 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its position in shares of Core Laboratories N.V. by 156.2% in the first quarter. Goldman Sachs Group Inc. now owns 68,823 shares of the oil and gas company’s stock valued at $7,951,000 after acquiring an additional 41,955 shares during the last quarter. Parsons Capital Management Inc. RI increased its position in shares of Core Laboratories N.V. by 15.4% in the first quarter. Parsons Capital Management Inc. RI now owns 10,436 shares of the oil and gas company’s stock valued at $1,206,000 after acquiring an additional 1,394 shares during the last quarter. Morgan Stanley increased its position in shares of Core Laboratories N.V. by 17.5% in the first quarter. Morgan Stanley now owns 167,465 shares of the oil and gas company’s stock valued at $19,346,000 after acquiring an additional 24,929 shares during the last quarter. Cue Financial Group Inc. increased its position in shares of Core Laboratories N.V. by 11.0% in the second quarter. Cue Financial Group Inc. now owns 2,525 shares of the oil and gas company’s stock valued at $256,000 after acquiring an additional 250 shares during the last quarter. Finally, State Street Corp increased its position in shares of Core Laboratories N.V. by 2.4% in the first quarter. State Street Corp now owns 542,972 shares of the oil and gas company’s stock valued at $62,732,000 after acquiring an additional 12,850 shares during the last quarter.

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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Analyst Recommendations for Core Laboratories N.V. (NYSE:CLB)

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