Core Laboratories N.V. (NYSE:CLB) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday, November 7th.
According to Zacks, “Core Laboratories is anticipated to face near-term headwinds. Weak commodity prices have prompted upstream firms to lower capital spending, which has resulted in lesser work for the likes of Core Laboratories. Since crude prices are expected to remain low well into 2017, cash flows could see a significant decline in the coming months. The paucity of deepwater drilling orders and lower levels of new wells, which will hamper the specialized service provider’s near-term results, are other negatives in the CLB story. Therefore, despite its third-quarter outperformance, we see the company as a risky bet that is best avoided at the moment.”
Several other equities analysts also recently weighed in on CLB. UBS AG decreased their price target on shares of Core Laboratories N.V. from $110.00 to $100.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 25th. ABN Amro raised shares of Core Laboratories N.V. from a “hold” rating to a “buy” rating in a research note on Wednesday, October 25th. Loop Capital decreased their price target on shares of Core Laboratories N.V. from $125.00 to $115.00 and set a “buy” rating on the stock in a research note on Wednesday, October 25th. Scotiabank set a $136.00 target price on shares of Core Laboratories N.V. and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Finally, Piper Jaffray Companies set a $97.00 target price on shares of Core Laboratories N.V. and gave the stock a “hold” rating in a research note on Monday, October 23rd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $108.64.
Shares of Core Laboratories N.V. (NYSE CLB) opened at $101.05 on Tuesday. The company has a market cap of $4,461.09, a price-to-earnings ratio of 55.22 and a beta of 1.57. The company has a current ratio of 2.18, a quick ratio of 1.81 and a debt-to-equity ratio of 1.53. Core Laboratories N.V. has a 52-week low of $86.55 and a 52-week high of $125.83.
Core Laboratories N.V. (NYSE:CLB) last released its quarterly earnings results on Monday, October 23rd. The oil and gas company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.04. The company had revenue of $166.20 million for the quarter, compared to analyst estimates of $160.94 million. Core Laboratories N.V. had a net margin of 12.06% and a return on equity of 52.89%. The firm’s revenue was up 1.4% on a year-over-year basis. During the same quarter last year, the business earned $0.38 earnings per share. equities analysts expect that Core Laboratories N.V. will post 1.99 EPS for the current year.
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Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC lifted its stake in Core Laboratories N.V. by 13.1% in the second quarter. Parallel Advisors LLC now owns 1,008 shares of the oil and gas company’s stock worth $101,000 after acquiring an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Core Laboratories N.V. by 63.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock worth $114,000 after acquiring an additional 439 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Core Laboratories N.V. in the second quarter worth approximately $134,000. Advisory Services Network LLC lifted its stake in Core Laboratories N.V. by 33.3% in the second quarter. Advisory Services Network LLC now owns 1,365 shares of the oil and gas company’s stock worth $138,000 after acquiring an additional 341 shares during the last quarter. Finally, First Bank & Trust lifted its position in shares of Core Laboratories N.V. by 5.8% during the 2nd quarter. First Bank & Trust now owns 1,493 shares of the oil and gas company’s stock worth $152,000 after buying an additional 82 shares during 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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