According to Zacks, “Core Laboratories boasts of a unique business model, disciplined financial management and technological expertise. We also like CLB's leadership position in the reservoir optimization niche, along with its global footprint and deep portfolio of proprietary products and services. Furthermore, CLB’s low asset intensive operations and limited capex needs allow it to generate substantial free cash flows. Providing core sample and fluid analysis to oil and natural gas producers in managing their reserves, Core Labs have been able to operate profitably even in this low commodity price environment. However, we see limited upside potential for shares due to the specialized service provider’s sensitivity to gas/oil price volatility, as well as E&P spending patterns, costs, geo-political risks, competition and the advent of new technologies. This accounts for our cautious stance.”
A number of other research analysts also recently issued reports on the stock. DA Davidson assumed coverage on shares of Core Laboratories NV in a research report on Wednesday, October 5th. They issued a buy rating and a $136.00 price target on the stock. Loop Capital assumed coverage on shares of Core Laboratories NV in a research report on Friday, September 30th. They issued a hold rating and a $120.00 price target on the stock. Citigroup Inc. cut their price objective on shares of Core Laboratories NV from $116.00 to $110.00 and set a neutral rating on the stock in a research report on Wednesday, September 28th. Credit Suisse Group AG assumed coverage on shares of Core Laboratories NV in a research report on Thursday, September 1st. They issued a neutral rating and a $115.00 price objective on the stock. Finally, JPMorgan Chase & Co. downgraded shares of Core Laboratories NV from a neutral rating to an underweight rating in a research report on Tuesday, July 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $121.61.
Shares of Core Laboratories NV (NYSE:CLB) opened at 114.42 on Thursday. The stock has a market cap of $5.05 billion, a P/E ratio of 60.70 and a beta of 1.45. The firm has a 50 day moving average of $111.04 and a 200 day moving average of $117.55. Core Laboratories NV has a one year low of $84.50 and a one year high of $135.49.
Core Laboratories NV (NYSE:CLB) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. Core Laboratories NV had a net margin of 11.81% and a return on equity of 344.55%. The company had revenue of $148.10 million for the quarter, compared to the consensus estimate of $146.37 million. During the same period last year, the firm posted $0.81 EPS. The company’s revenue for the quarter was down 27.4% on a year-over-year basis. On average, equities research analysts predict that Core Laboratories NV will post $1.54 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balentine LLC increased its position in Core Laboratories NV by 44.3% in the second quarter. Balentine LLC now owns 893 shares of the company’s stock valued at $111,000 after buying an additional 274 shares during the period. MU Investments Co. Ltd. purchased a new position in Core Laboratories NV during the second quarter valued at $115,000. Pinkerton Retirement Specialists LLC purchased a new position in Core Laboratories NV during the second quarter valued at $127,000. Advisory Services Network LLC increased its position in Core Laboratories NV by 33.2% in the third quarter. Advisory Services Network LLC now owns 1,062 shares of the company’s stock valued at $119,000 after buying an additional 265 shares during the period. Finally, Fifth Third Bancorp increased its position in Core Laboratories NV by 15.3% in the second quarter. Fifth Third Bancorp now owns 1,166 shares of the company’s stock valued at $144,000 after buying an additional 155 shares during the period.
Core Laboratories NV Company Profile
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields.
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