Core Laboratories (NYSE:CLB) Rating Increased to Hold at StockNews.com

Core Laboratories (NYSE:CLB) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.

CLB has been the topic of several other research reports. Bank of America lowered their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a 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. Stifel Nicolaus lifted their target price on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Citigroup dropped their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $17.00.

Core Laboratories Stock Up 10.5 %

CLB opened at $21.59 on Thursday. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 33.22, a price-to-earnings-growth ratio of 1.32 and a beta of 2.35. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.79 and a current ratio of 2.48. The firm’s fifty day moving average is $18.63 and its 200 day moving average is $19.09. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.21 by $0.04. The business had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.22 earnings per share. On average, sell-side analysts forecast that Core Laboratories will post 0.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Laboratories

Several institutional investors have recently modified their holdings of CLB. Louisiana State Employees Retirement System lifted its position in Core Laboratories by 2.2% in the second quarter. Louisiana State Employees Retirement System now owns 23,600 shares of the oil and gas company’s stock worth $479,000 after buying an additional 500 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Core Laboratories by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,054 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 579 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Core Laboratories by 11.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 600 shares during the period. Oppenheimer Asset Management Inc. grew its holdings in Core Laboratories by 1.4% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 54,310 shares of the oil and gas company’s stock valued at $1,102,000 after purchasing an additional 758 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Core Laboratories by 12.8% in the second quarter. Signaturefd LLC now owns 6,776 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 767 shares during the last quarter. 97.81% of the stock is owned by 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.