Core Laboratories (NYSE:CLB) Price Target Raised to $18.00

Core Laboratories (NYSE:CLB) had its price objective boosted by research analysts at Stifel Nicolaus from $17.00 to $18.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price points to a potential upside of 6.26% from the company’s previous close.

A number of other research firms have also recently weighed in on CLB. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Bank of America decreased their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a report on Monday, April 15th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $18.75.

Core Laboratories Stock Down 0.8 %

CLB opened at $16.94 on Friday. The firm has a 50 day moving average price of $16.34 and a 200 day moving average price of $17.57. The company has a market cap of $793.81 million, a PE ratio of 19.25, a price-to-earnings-growth ratio of 0.97 and a beta of 2.40. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.72 and a current ratio of 2.68.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $129.64 million during the quarter, compared to analysts’ expectations of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. Sell-side analysts expect that Core Laboratories will post 0.8 earnings per share for the current year.

Hedge Funds Weigh In On Core Laboratories

Several institutional investors and hedge funds have recently made changes to their positions in CLB. Allspring Global Investments Holdings LLC purchased a new position in shares of Core Laboratories during the 3rd quarter valued at approximately $31,000. GAMMA Investing LLC purchased a new position in shares of Core Laboratories during the 4th quarter valued at approximately $48,000. Quadrant Capital Group LLC raised its position in shares of Core Laboratories by 84.0% during the 4th quarter. Quadrant Capital Group LLC now owns 3,370 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,538 shares in the last quarter. CWM LLC raised its position in shares of Core Laboratories by 1,178.6% during the 1st quarter. CWM LLC now owns 3,580 shares of the oil and gas company’s stock valued at $61,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Lindbrook Capital LLC raised its position in shares of Core Laboratories by 19.7% during the 1st quarter. Lindbrook Capital LLC now owns 3,713 shares of the oil and gas company’s stock valued at $63,000 after acquiring an additional 612 shares in the last quarter. 97.81% of the stock is currently owned by hedge funds and other institutional investors.

Core Laboratories Company Profile

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.