Royal Bank Of Canada reissued their buy rating on shares of Core Laboratories N.V. (NYSE:CLB) in a research report released on Wednesday, October 18th.
CLB has been the subject of a number of other reports. Deutsche Bank AG initiated coverage on Core Laboratories N.V. in a research note on Tuesday, October 10th. They issued a buy rating and a $109.00 target price for the company. Zacks Investment Research cut Core Laboratories N.V. from a hold rating to a sell rating in a research report on Tuesday, October 17th. ValuEngine cut Core Laboratories N.V. from a hold rating to a sell rating in a research report on Friday, September 1st. Cowen and Company reaffirmed a hold rating and set a $100.00 price objective on shares of Core Laboratories N.V. in a research report on Friday, September 1st. Finally, Credit Suisse Group raised Core Laboratories N.V. from a neutral rating to an outperform rating and set a $110.00 price objective for the company in a research report on Thursday, August 24th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $108.64.
Core Laboratories N.V. (NYSE CLB) traded down 0.48% during midday trading on Wednesday, hitting $92.60. 133,466 shares of the company traded hands. The stock has a 50 day moving average of $94.98 and a 200 day moving average of $100.86. Core Laboratories N.V. has a 12-month low of $86.55 and a 12-month high of $125.83. The stock has a market cap of $4.09 billion, a P/E ratio of 56.81 and a beta of 1.64.
Core Laboratories N.V. (NYSE:CLB) last posted its earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.04. Core Laboratories N.V. had a return on equity of 52.89% and a net margin of 12.06%. The firm had revenue of $166.20 million during the quarter, compared to analysts’ expectations of $160.94 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 1.4% on a year-over-year basis. Equities research analysts predict that Core Laboratories N.V. will post $1.99 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 21st. Stockholders of record on Friday, October 20th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.36%. Core Laboratories N.V.’s dividend payout ratio (DPR) is currently 126.44%.
A number of large investors have recently modified their holdings of the stock. Clearbridge Investments LLC grew its position in Core Laboratories N.V. by 3.8% during the first quarter. Clearbridge Investments LLC now owns 5,219,879 shares of the oil and gas company’s stock worth $603,000,000 after buying an additional 190,186 shares in the last quarter. WCM Investment Management CA grew its position in Core Laboratories N.V. by 7.3% during the second quarter. WCM Investment Management CA now owns 4,433,175 shares of the oil and gas company’s stock worth $448,948,000 after buying an additional 303,073 shares in the last quarter. Vanguard Group Inc. grew its position in Core Laboratories N.V. by 1.6% during the second quarter. Vanguard Group Inc. now owns 3,672,865 shares of the oil and gas company’s stock worth $371,950,000 after buying an additional 56,807 shares in the last quarter. Sustainable Growth Advisers LP grew its position in Core Laboratories N.V. by 36.9% during the second quarter. Sustainable Growth Advisers LP now owns 2,345,271 shares of the oil and gas company’s stock worth $237,505,000 after buying an additional 632,263 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in Core Laboratories N.V. by 1.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,702,000 shares of the oil and gas company’s stock worth $172,364,000 after buying an additional 22,276 shares in the last quarter.
Core Laboratories N.V. Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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