Weekly Investment Analysts’ Ratings Updates for Core Laboratories (CLB)

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Several analysts have recently updated their ratings and price targets for Core Laboratories (NYSE: CLB):

  • 10/31/2018 – Core Laboratories was upgraded by analysts at ABN Amro from a “sell” rating to a “buy” rating.
  • 10/29/2018 – Core Laboratories had its price target lowered by analysts at Cowen Inc from $100.00 to $90.00. They now have a “market perform” rating on the stock.
  • 10/29/2018 – Core Laboratories had its price target lowered by analysts at Morgan Stanley from $115.00 to $105.00. They now have a “hold” rating on the stock.
  • 10/29/2018 – Core Laboratories had its “hold” rating reaffirmed by analysts at Piper Jaffray Companies. They now have a $87.00 price target on the stock.
  • 10/29/2018 – Core Laboratories was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $110.00 price target on the stock, down previously from $117.00.
  • 10/26/2018 – Core Laboratories had its price target lowered by analysts at Credit Suisse Group AG from $122.00 to $105.00. They now have a “buy” rating on the stock.
  • 10/25/2018 – Core Laboratories was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating.
  • 10/23/2018 – Core Laboratories was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 10/17/2018 – Core Laboratories is now covered by analysts at Bank of America Corp. They set a “neutral” rating on the stock.
  • 10/12/2018 – Core Laboratories was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Core Laboratories' technology-heavy portfolio of proprietary products and services gives it the opportunity to optimize production from new and existing fields. Furthermore, the company's low asset intensive operations and limited capital expenditure needs allow it to generate substantial free cash flows, the bulk of which it returns to investors via dividends and stock buybacks. With energy companies looking to utilize every dollar that they spend, Core Labs' services have become even more important for energy companies. However, deferred international activities, especially in the Middle East and Asia-Pacific regions, have been impacting revenues in the Reservoir Description unit. To make things worse, the company anticipates sluggishness in the overseas segment to continue in the third quarter as well. The interplay of all these factors forms the basis of the cautious stance on the prospects of the stock.”
  • 10/11/2018 – Core Laboratories was given a new $115.00 price target on by analysts at Morgan Stanley. They now have a “hold” rating on the stock.
  • 10/10/2018 – Core Laboratories is now covered by analysts at Wolfe Research. They set an “underperform” rating on the stock.
  • 10/5/2018 – Core Laboratories was given a new $95.00 price target on by analysts at Piper Jaffray Companies. They now have a “hold” rating on the stock.
  • 9/26/2018 – Core Laboratories was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/18/2018 – Core Laboratories is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $125.00 price target on the stock.
  • 9/17/2018 – Core Laboratories had its price target raised by analysts at JPMorgan Chase & Co. from $118.00 to $121.00. They now have an “overweight” rating on the stock.
  • 9/14/2018 – Core Laboratories was given a new $116.00 price target on by analysts at Citigroup Inc. They now have a “hold” rating on the stock.
  • 9/10/2018 – Core Laboratories is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $117.00 price target on the stock.
  • 9/4/2018 – Core Laboratories was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 9/4/2018 – Core Laboratories is now covered by analysts at Edward Jones. They set a “buy” rating on the stock.

Shares of NYSE:CLB traded up $1.58 on Thursday, hitting $86.82. The stock had a trading volume of 632,864 shares, compared to its average volume of 439,079. Core Laboratories has a twelve month low of $82.07 and a twelve month high of $130.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31. The company has a market capitalization of $3.77 billion, a PE ratio of 43.41, a P/E/G ratio of 2.53 and a beta of 1.46.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, October 24th. The oil and gas company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Core Laboratories had a net margin of 13.21% and a return on equity of 68.00%. The company had revenue of $182.15 million for the quarter, compared to the consensus estimate of $178.11 million. During the same quarter in the previous year, the company earned $0.46 EPS. The firm’s revenue for the quarter was up 11.8% compared to the same quarter last year. On average, analysts forecast that Core Laboratories will post 2.27 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 20th. Stockholders of record on Friday, October 19th will be paid a $0.55 dividend. The ex-dividend date is Thursday, October 18th. This represents a $2.20 annualized dividend and a dividend yield of 2.53%. Core Laboratories’s dividend payout ratio is presently 110.00%.

Several large investors have recently modified their holdings of CLB. Fisher Asset Management LLC boosted its stake in shares of Core Laboratories by 60.1% in the 3rd quarter. Fisher Asset Management LLC now owns 721,408 shares of the oil and gas company’s stock valued at $83,561,000 after purchasing an additional 270,723 shares in the last quarter. WCM Investment Management CA lifted its position in Core Laboratories by 5.0% during the 2nd quarter. WCM Investment Management CA now owns 5,285,156 shares of the oil and gas company’s stock worth $667,040,000 after buying an additional 249,329 shares in the last quarter. Millennium Management LLC lifted its position in Core Laboratories by 9,329.6% during the 2nd quarter. Millennium Management LLC now owns 226,594 shares of the oil and gas company’s stock worth $28,598,000 after buying an additional 224,191 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Core Laboratories by 8.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,897,159 shares of the oil and gas company’s stock worth $219,748,000 after buying an additional 149,762 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Core Laboratories by 3.8% during the 2nd quarter. BlackRock Inc. now owns 3,186,363 shares of the oil and gas company’s stock worth $402,151,000 after buying an additional 117,678 shares in the last quarter.

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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