Bank of America upgraded shares of Core Laboratories (NYSE:CLB) from a neutral rating to a buy rating in a research note published on Wednesday morning, 24/7 WallStreet reports. The firm currently has $63.00 target price on the oil and gas company’s stock.
Other equities analysts have also recently issued reports about the company. Stifel Nicolaus reiterated a buy rating and issued a $170.00 price objective on shares of Spotify in a report on Friday, April 26th. Royal Bank of Canada reiterated an underperform rating and issued a GBX 215 ($2.81) price objective on shares of in a report on Wednesday, June 26th. Piper Jaffray Companies set a $52.00 price objective on Core Laboratories and gave the stock a hold rating in a report on Wednesday, June 26th. Finally, Zacks Investment Research cut Heritage Insurance from a hold rating to a strong sell rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. Core Laboratories has a consensus rating of Hold and an average price target of $78.58.
Shares of CLB traded up $1.16 during midday trading on Wednesday, reaching $55.00. The stock had a trading volume of 1,204,100 shares, compared to its average volume of 606,209. The business has a 50-day moving average price of $50.96. Core Laboratories has a 12-month low of $46.32 and a 12-month high of $122.11. The company has a quick ratio of 1.45, a current ratio of 1.84 and a debt-to-equity ratio of 1.92. The firm has a market capitalization of $2.39 billion, a P/E ratio of 24.12, a price-to-earnings-growth ratio of 2.81 and a beta of 1.93.
Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Core Laboratories had a return on equity of 57.13% and a net margin of 13.79%. The firm had revenue of $169.19 million during the quarter, compared to analysts’ expectations of $166.79 million. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, equities analysts forecast that Core Laboratories will post 1.95 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the stock. Scout Investments Inc. raised its position in shares of Core Laboratories by 65.8% in the 2nd quarter. Scout Investments Inc. now owns 80,926 shares of the oil and gas company’s stock worth $4,231,000 after acquiring an additional 32,123 shares in the last quarter. Douglas Lane & Associates LLC raised its position in shares of Core Laboratories by 38.3% in the 2nd quarter. Douglas Lane & Associates LLC now owns 94,264 shares of the oil and gas company’s stock worth $4,928,000 after acquiring an additional 26,123 shares in the last quarter. FMR LLC increased its position in Core Laboratories by 173.3% during the 1st quarter. FMR LLC now owns 40,935 shares of the oil and gas company’s stock valued at $2,821,000 after buying an additional 25,955 shares in the last quarter. M Holdings Securities Inc. increased its position in Core Laboratories by 18.6% during the 1st quarter. M Holdings Securities Inc. now owns 4,384 shares of the oil and gas company’s stock valued at $302,000 after buying an additional 688 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Core Laboratories during the 1st quarter valued at approximately $30,000.
Core Laboratories Company Profile
Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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