Bank of America Cuts Core Laboratories (NYSE:CLB) Price Target to $15.00

Core Laboratories (NYSE:CLB) had its price target reduced by stock analysts at Bank of America from $16.00 to $15.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “underperform” rating on the oil and gas company’s stock. Bank of America‘s price target points to a potential downside of 33.66% from the company’s current price.

A number of other equities research analysts have also issued reports on CLB. Piper Sandler reduced their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday. Stifel Nicolaus increased their price objective on Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $17.50.

Core Laboratories Trading Up 3.8 %

Shares of CLB stock traded up $0.83 on Monday, hitting $22.61. The stock had a trading volume of 104,088 shares, compared to its average volume of 440,973. The company’s 50 day moving average price is $18.67 and its 200-day moving average price is $17.03. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.68 and a quick ratio of 1.85. The firm has a market capitalization of $1.06 billion, a P/E ratio of 25.93, a P/E/G ratio of 1.37 and a beta of 2.41.

Core Laboratories (NYSE:CLB) last released its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company 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%. Analysts anticipate that Core Laboratories will post 0.73 earnings per share for the current year.

Institutional Trading of Core Laboratories

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC grew its holdings in shares of Core Laboratories by 21.5% during the fourth quarter. Fisher Asset Management LLC now owns 753,555 shares of the oil and gas company’s stock worth $13,308,000 after purchasing an additional 133,375 shares during the last quarter. Van ECK Associates Corp raised its holdings in Core Laboratories by 9.0% during the first quarter. Van ECK Associates Corp now owns 639,071 shares of the oil and gas company’s stock worth $10,915,000 after purchasing an additional 52,639 shares in the last quarter. Gendell Jeffrey L raised its stake in shares of Core Laboratories by 35.1% during the 4th quarter. Gendell Jeffrey L now owns 162,093 shares of the oil and gas company’s stock worth $2,863,000 after buying an additional 42,140 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in Core Laboratories by 40.8% during the first quarter. Congress Wealth Management LLC DE now owns 183,282 shares of the oil and gas company’s stock worth $3,130,000 after acquiring an additional 53,090 shares during the period. Finally, Congress Asset Management Co. MA raised its position in Core Laboratories by 17.6% in the first quarter. Congress Asset Management Co. MA now owns 1,606,745 shares of the oil and gas company’s stock worth $27,443,000 after acquiring an additional 240,989 shares in the last quarter. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.