Core Laboratories (NYSE:CLB) Price Target Cut to $14.00 by Analysts at Citigroup

Core Laboratories (NYSE:CLB) had its price objective lowered by equities research analysts at Citigroup from $15.00 to $14.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the oil and gas company’s stock. Citigroup’s price target would indicate a potential downside of 25.89% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Monday, October 28th. Bank of America dropped their price target on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Piper Sandler dropped their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Finally, Stifel Nicolaus raised their price target on shares of Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $17.00.

Core Laboratories Stock Performance

Shares of CLB stock opened at $18.89 on Thursday. The company has a quick ratio of 1.79, a current ratio of 2.48 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $18.60 and a two-hundred day moving average of $19.02. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $25.13. The company has a market cap of $886.89 million, a P/E ratio of 29.06, a PEG ratio of 1.34 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The firm had revenue of $134.40 million during the quarter, compared to the consensus estimate of $134.16 million. During the same period in the prior year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that Core Laboratories will post 0.77 EPS for the current year.

Institutional Trading of Core Laboratories

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in Core Laboratories by 0.5% during the first quarter. Vanguard Group Inc. now owns 5,392,034 shares of the oil and gas company’s stock valued at $92,096,000 after purchasing an additional 27,701 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its position in Core Laboratories by 446.8% during the second quarter. Disciplined Growth Investors Inc. MN now owns 4,460,720 shares of the oil and gas company’s stock valued at $90,508,000 after purchasing an additional 3,644,963 shares during the last quarter. PEAK6 Investments LLC lifted its holdings in shares of Core Laboratories by 106.5% in the 1st quarter. PEAK6 Investments LLC now owns 61,005 shares of the oil and gas company’s stock worth $1,042,000 after acquiring an additional 31,459 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Core Laboratories by 12.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 306,287 shares of the oil and gas company’s stock worth $6,215,000 after acquiring an additional 34,149 shares during the last quarter. Finally, Earnest Partners LLC lifted its holdings in shares of Core Laboratories by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 3,286,438 shares of the oil and gas company’s stock worth $66,682,000 after acquiring an additional 195,756 shares during the last quarter. Hedge funds and other institutional investors own 97.81% of the company’s stock.

Core Laboratories Company Profile

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