Core Laboratories (CLB) PT Lowered to $105.00

Core Laboratories (NYSE:CLB) had its price target reduced by stock analysts at Morgan Stanley from $115.00 to $105.00 in a research report issued on Monday. The firm presently has a “hold” rating on the oil and gas company’s stock. Morgan Stanley’s price objective suggests a potential upside of 23.09% from the company’s previous close.

A number of other equities analysts have also recently weighed in on the stock. Cowen decreased their price objective on shares of Core Laboratories from $100.00 to $90.00 and set a “market perform” rating for the company in a research report on Monday. Stifel Nicolaus raised shares of Core Laboratories from a “hold” rating to a “buy” rating and decreased their price objective for the company from $117.00 to $110.00 in a research report on Monday. Piper Jaffray Companies reissued a “hold” rating and issued a $87.00 price objective on shares of Core Laboratories in a research report on Monday. TheStreet cut shares of Core Laboratories from a “b-” rating to a “c+” rating in a research report on Thursday, October 25th. Finally, Credit Suisse Group decreased their price objective on shares of Core Laboratories from $122.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $111.36.

NYSE:CLB opened at $85.30 on Monday. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.31 and a quick ratio of 1.85. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 42.65, a PEG ratio of 2.41 and a beta of 1.46. Core Laboratories has a 1-year low of $82.07 and a 1-year high of $130.34.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The company had revenue of $182.15 million during the quarter, compared to analysts’ expectations of $178.11 million. Core Laboratories had a net margin of 13.21% and a return on equity of 68.00%. The firm’s revenue for the quarter was up 11.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 EPS. As a group, sell-side analysts expect that Core Laboratories will post 2.29 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the company. Signaturefd LLC lifted its position in shares of Core Laboratories by 403.7% during the second quarter. Signaturefd LLC now owns 811 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 650 shares during the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Core Laboratories during the third quarter worth about $122,000. WMS Partners LLC bought a new position in shares of Core Laboratories during the second quarter worth about $202,000. World Asset Management Inc bought a new position in shares of Core Laboratories during the second quarter worth about $205,000. Finally, Welch & Forbes LLC bought a new position in shares of Core Laboratories during the third quarter worth about $210,000.

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. 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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