Citigroup Trims Core Laboratories (NYSE:CLB) Target Price to $51.00

Core Laboratories (NYSE:CLB) had its price target trimmed by Citigroup from $54.00 to $51.00 in a report published on Wednesday, BenzingaRatingsTable reports. The firm currently has a neutral rating on the oil and gas company’s stock.

Several other analysts also recently weighed in on CLB. Bank of America upgraded Core Laboratories from a neutral rating to a buy rating and set a $63.00 price target on the stock in a research note on Wednesday, July 10th. Morgan Stanley lowered their price objective on Core Laboratories from $75.00 to $70.00 and set an equal weight rating on the stock in a research report on Friday, July 12th. ValuEngine cut Core Laboratories from a sell rating to a strong sell rating in a research report on Monday, July 29th. Royal Bank of Canada set a $77.00 price objective on Core Laboratories and gave the company a buy rating in a research report on Wednesday, June 26th. Finally, Piper Jaffray Companies set a $52.00 price objective on Core Laboratories and gave the company a hold rating in a research report on Wednesday, June 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $74.42.

Core Laboratories stock opened at $46.91 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 1.80 and a debt-to-equity ratio of 1.83. The company has a market capitalization of $2.08 billion, a P/E ratio of 20.57, a PEG ratio of 5.03 and a beta of 1.95. The stock’s 50 day moving average is $42.43 and its 200 day moving average is $55.57. Core Laboratories has a twelve month low of $36.61 and a twelve month high of $122.11.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share for the quarter, hitting the consensus estimate of $0.46. The company had revenue of $169.04 million for the quarter, compared to the consensus estimate of $173.46 million. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. As a group, equities analysts expect that Core Laboratories will post 1.75 EPS for the current year.

In other Core Laboratories news, Director Gregory Barry Barnett acquired 1,000 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $40.00 per share, with a total value of $40,000.00. Following the transaction, the director now owns 11,000 shares of the company’s stock, valued at approximately $440,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Core Laboratories by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,213,497 shares of the oil and gas company’s stock valued at $220,282,000 after buying an additional 71,430 shares during the period. Earnest Partners LLC lifted its holdings in shares of Core Laboratories by 19.5% during the 2nd quarter. Earnest Partners LLC now owns 2,308,539 shares of the oil and gas company’s stock valued at $120,690,000 after buying an additional 377,223 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Core Laboratories by 0.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,837 shares of the oil and gas company’s stock valued at $81,811,000 after buying an additional 10,877 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Core Laboratories by 129.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,272,774 shares of the oil and gas company’s stock valued at $66,541,000 after buying an additional 718,280 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Core Laboratories by 1.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,222,147 shares of the oil and gas company’s stock valued at $62,610,000 after buying an additional 21,810 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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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