Piper Jaffray Companies Analysts Give Core Laboratories (CLB) a $95.00 Price Target

Piper Jaffray Companies set a $95.00 target price on Core Laboratories (NYSE:CLB) in a research report released on Friday morning. The firm currently has a hold rating on the oil and gas company’s stock. Piper Jaffray Companies also issued estimates for Core Laboratories’ Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.61 EPS, FY2018 earnings at $2.40 EPS, Q1 2019 earnings at $0.65 EPS, Q2 2019 earnings at $0.70 EPS, Q3 2019 earnings at $0.80 EPS, Q4 2019 earnings at $0.84 EPS, FY2019 earnings at $2.99 EPS and FY2020 earnings at $3.65 EPS.

Several other equities analysts have also recently issued reports on CLB. ABN Amro cut Core Laboratories from a hold rating to a sell rating in a research note on Monday, July 2nd. Citigroup cut Core Laboratories from a neutral rating to a sell rating in a research note on Monday, July 2nd. Zacks Investment Research cut Core Laboratories from a hold rating to a sell rating in a research note on Wednesday, July 4th. Royal Bank of Canada reduced their target price on Core Laboratories to $130.00 and set an outperform rating on the stock in a research note on Thursday, July 5th. Finally, JPMorgan Chase & Co. reduced their target price on Core Laboratories from $121.00 to $118.00 and set an overweight rating on the stock in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $115.92.

Shares of CLB stock opened at $117.50 on Friday. The company has a quick ratio of 1.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.53. Core Laboratories has a fifty-two week low of $87.66 and a fifty-two week high of $130.34. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 58.75, a P/E/G ratio of 3.96 and a beta of 1.46.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. Core Laboratories had a return on equity of 64.13% and a net margin of 13.32%. The firm had revenue of $175.48 million for the quarter, compared to analysts’ expectations of $174.47 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was up 10.9% compared to the same quarter last year. On average, equities analysts predict that Core Laboratories will post 2.44 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. WCM Investment Management CA grew its stake in Core Laboratories by 5.0% in the second quarter. WCM Investment Management CA now owns 5,285,156 shares of the oil and gas company’s stock worth $667,040,000 after purchasing an additional 249,329 shares during the period. BlackRock Inc. grew its stake in Core Laboratories by 3.8% in the second quarter. BlackRock Inc. now owns 3,186,363 shares of the oil and gas company’s stock worth $402,151,000 after purchasing an additional 117,678 shares during the period. Northern Trust Corp grew its stake in Core Laboratories by 2.0% in the second quarter. Northern Trust Corp now owns 484,007 shares of the oil and gas company’s stock worth $61,086,000 after purchasing an additional 9,341 shares during the period. Fisher Asset Management LLC grew its stake in Core Laboratories by 2.9% in the second quarter. Fisher Asset Management LLC now owns 450,685 shares of the oil and gas company’s stock worth $56,881,000 after purchasing an additional 12,671 shares during the period. Finally, Schroder Investment Management Group grew its stake in Core Laboratories by 3.1% in the second quarter. Schroder Investment Management Group now owns 304,020 shares of the oil and gas company’s stock worth $38,142,000 after purchasing an additional 9,218 shares during the period.

About Core Laboratories

Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.

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Analyst Recommendations for Core Laboratories (NYSE:CLB)

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