Cowen Cuts Core Laboratories (CLB) Price Target to $90.00

Core Laboratories (NYSE:CLB) had its target price decreased by Cowen from $100.00 to $90.00 in a research report report published on Monday morning, MarketBeat reports. Cowen currently has a market perform rating on the oil and gas company’s stock.

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Core Laboratories from a hold rating to a buy rating in a report on Tuesday, September 4th. Edward Jones initiated coverage on Core Laboratories in a report on Tuesday, September 4th. They issued a buy rating on the stock. Credit Suisse Group reduced their target price on Core Laboratories from $122.00 to $105.00 and set a buy rating on the stock in a report on Friday. Stifel Nicolaus raised Core Laboratories from a hold rating to a buy rating and reduced their target price for the company from $117.00 to $110.00 in a report on Monday. Finally, TheStreet downgraded Core Laboratories from a b- rating to a c+ rating in a report on Thursday, October 25th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $111.36.

Shares of CLB stock opened at $83.91 on Monday. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 41.96, a price-to-earnings-growth ratio of 2.41 and a beta of 1.46. Core Laboratories has a fifty-two week low of $83.15 and a fifty-two week high of $130.34. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.85 and a current ratio of 2.31.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.01. The firm had revenue of $182.15 million for the quarter, compared to the consensus estimate of $178.11 million. Core Laboratories had a return on equity of 68.00% and a net margin of 13.21%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, analysts forecast that Core Laboratories will post 2.29 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, October 19th will be issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Thursday, October 18th. Core Laboratories’s dividend payout ratio (DPR) is 110.00%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CLB. Dimensional Fund Advisors LP boosted its holdings in shares of Core Laboratories by 3.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 277,192 shares of the oil and gas company’s stock valued at $29,998,000 after acquiring an additional 8,287 shares in the last quarter. UBS Group AG boosted its holdings in shares of Core Laboratories by 32.6% during the 1st quarter. UBS Group AG now owns 18,842 shares of the oil and gas company’s stock valued at $2,039,000 after acquiring an additional 4,629 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Core Laboratories by 35.5% during the 1st quarter. LPL Financial LLC now owns 2,950 shares of the oil and gas company’s stock valued at $319,000 after acquiring an additional 773 shares in the last quarter. Guggenheim Capital LLC boosted its holdings in shares of Core Laboratories by 41.1% during the 1st quarter. Guggenheim Capital LLC now owns 16,190 shares of the oil and gas company’s stock valued at $1,751,000 after acquiring an additional 4,718 shares in the last quarter. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Core Laboratories by 13.5% during the 1st quarter. Atlantic Trust Group LLC now owns 4,045 shares of the oil and gas company’s stock valued at $438,000 after acquiring an additional 480 shares in the last quarter.

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. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises 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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Analyst Recommendations for Core Laboratories (NYSE:CLB)

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