Core Laboratories (NYSE:CLB) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Core Laboratories (NYSE:CLB) from an underperform rating to a market perform rating in a research report released on Monday, The Fly reports.

A number of other research analysts also recently commented on the stock. Cowen dropped their price objective on shares of Core Laboratories from $26.00 to $20.00 and set a market perform rating for the company in a research note on Wednesday, November 11th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their target price on shares of Core Laboratories from $16.00 to $30.00 in a research report on Tuesday, December 15th. Smith Barney Citigroup increased their target price on shares of Core Laboratories from $16.00 to $30.00 in a research report on Tuesday, December 15th. Bank of America raised shares of Core Laboratories from an underperform rating to a neutral rating in a research report on Tuesday, October 13th. Finally, Morgan Stanley raised shares of Core Laboratories from an equal weight rating to an overweight rating in a research report on Tuesday, November 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $22.98.

Shares of NYSE:CLB opened at $34.18 on Monday. The business’s fifty day moving average price is $27.15 and its two-hundred day moving average price is $21.28. The stock has a market cap of $1.52 billion, a PE ratio of -15.06, a price-to-earnings-growth ratio of 11.53 and a beta of 3.38. The company has a debt-to-equity ratio of 2.64, a quick ratio of 0.74 and a current ratio of 0.99. Core Laboratories has a one year low of $6.68 and a one year high of $40.97.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 21st. The oil and gas company reported $0.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.02. Core Laboratories had a negative net margin of 19.02% and a positive return on equity of 45.39%. The company had revenue of $105.38 million during the quarter, compared to the consensus estimate of $109.33 million. During the same quarter in the prior year, the company posted $0.50 EPS. The company’s quarterly revenue was down 39.2% compared to the same quarter last year. As a group, equities research analysts predict that Core Laboratories will post 0.78 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of CLB. Earnest Partners LLC grew its position in Core Laboratories by 13.7% in the third quarter. Earnest Partners LLC now owns 4,183,096 shares of the oil and gas company’s stock valued at $63,834,000 after acquiring an additional 503,379 shares in the last quarter. Vanguard Group Inc. lifted its stake in Core Laboratories by 7.3% during the second quarter. Vanguard Group Inc. now owns 4,693,148 shares of the oil and gas company’s stock worth $95,365,000 after purchasing an additional 318,581 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Core Laboratories by 149.4% during the second quarter. Principal Financial Group Inc. now owns 387,313 shares of the oil and gas company’s stock worth $7,870,000 after purchasing an additional 232,010 shares during the last quarter. AKO Capital LLP lifted its stake in Core Laboratories by 10.6% during the third quarter. AKO Capital LLP now owns 1,470,753 shares of the oil and gas company’s stock worth $22,444,000 after purchasing an additional 141,453 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Core Laboratories during the third quarter worth $1,942,000. 92.69% of the stock is owned by institutional investors.

Core Laboratories Company Profile

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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