Core Laboratories (NYSE:CLB) had its price objective cut by Morgan Stanley from $75.00 to $70.00 in a research note published on Friday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the oil and gas company’s stock.
A number of other research analysts have also issued reports on CLB. Royal Bank of Canada reiterated an underperform rating and set a GBX 215 ($2.81) price target on shares of in a research report on Wednesday, June 26th. Bank of America set a $25.00 price objective on Levi Strauss & Co. and gave the company a hold rating in a report on Wednesday, July 10th. Zacks Investment Research lowered Heritage Insurance from a hold rating to a strong sell rating in a report on Friday, April 26th. Stifel Nicolaus reaffirmed a buy rating and set a $170.00 target price on shares of Spotify in a research report on Friday, April 26th. Finally, Piper Jaffray Companies set a $52.00 price target on Core Laboratories and gave the company a hold rating in a research report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $75.67.
NYSE:CLB opened at $54.37 on Friday. Core Laboratories has a 12-month low of $46.32 and a 12-month high of $122.11. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 2.93 and a beta of 1.93. 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’s 50 day moving average is $51.01.
Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. Core Laboratories had a return on equity of 57.13% and a net margin of 13.79%. The business had revenue of $169.19 million during the quarter, compared to analyst estimates of $166.79 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The business’s revenue for the quarter was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Core Laboratories will post 1.92 EPS for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Monday, August 12th. Investors of record on Monday, July 22nd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, July 19th. Core Laboratories’s payout ratio is 96.49%.
A number of hedge funds and other institutional investors have recently modified their holdings of CLB. Bremer Bank National Association purchased a new position in Core Laboratories in the first quarter valued at about $30,000. Marshall Wace LLP purchased a new position in Core Laboratories in the first quarter valued at about $30,000. Quadrant Capital Group LLC grew its stake in Core Laboratories by 408.0% in the first quarter. Quadrant Capital Group LLC now owns 884 shares of the oil and gas company’s stock valued at $59,000 after purchasing an additional 710 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new position in Core Laboratories in the first quarter valued at about $75,000. Finally, Captrust Financial Advisors grew its stake in Core Laboratories by 20.4% in the fourth quarter. Captrust Financial Advisors now owns 1,856 shares of the oil and gas company’s stock valued at $111,000 after purchasing an additional 314 shares in the last quarter.
About Core Laboratories
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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