Core Laboratories (NYSE:CLB) Lowered to “Sell” at StockNews.com

Core Laboratories (NYSE:CLB) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report issued on Wednesday.

Other analysts also recently issued reports about the company. Stifel Nicolaus increased their price target on Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America decreased their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a research report on Monday, April 15th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $18.75.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $21.45 on Wednesday. The company has a market cap of $1.01 billion, a PE ratio of 24.38, a price-to-earnings-growth ratio of 1.30 and a beta of 2.41. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The business has a 50 day moving average price of $18.56 and a 200-day moving average price of $17.03. The company has a quick ratio of 1.85, a current ratio of 2.68 and a debt-to-equity ratio of 0.68.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The firm had revenue of $129.64 million during the quarter, compared to the consensus estimate of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. Equities analysts anticipate that Core Laboratories will post 0.73 earnings per share for the current fiscal year.

Institutional Trading of Core Laboratories

A number of large investors have recently bought and sold shares of CLB. Toroso Investments LLC increased its position in Core Laboratories by 6.9% in the third quarter. Toroso Investments LLC now owns 38,348 shares of the oil and gas company’s stock worth $921,000 after buying an additional 2,480 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Core Laboratories in the fourth quarter worth $288,000. Louisiana State Employees Retirement System purchased a new stake in Core Laboratories in the fourth quarter worth $413,000. Illinois Municipal Retirement Fund increased its position in Core Laboratories by 10.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 27,921 shares of the oil and gas company’s stock worth $493,000 after buying an additional 2,641 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in Core Laboratories in the fourth quarter worth $48,000. 97.81% of the stock is owned by hedge funds and other institutional investors.

About Core Laboratories

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.