Citigroup Lowers Core Laboratories (NYSE:CLB) Price Target to $14.00

Core Laboratories (NYSE:CLBGet Free Report) had its price target dropped by research analysts at Citigroup from $15.00 to $14.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “sell” rating on the oil and gas company’s stock. Citigroup’s price objective would suggest a potential downside of 25.93% from the company’s previous close.

Several other research analysts have also recently issued reports on the company. Piper Sandler lowered their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Monday. Bank of America decreased their target price on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Finally, Stifel Nicolaus upped their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $17.00.

Read Our Latest Analysis on CLB

Core Laboratories Stock Down 2.0 %

NYSE CLB traded down $0.38 during trading hours on Thursday, hitting $18.90. 216,225 shares of the company were exchanged, compared to its average volume of 430,907. The company has a 50 day moving average of $18.57 and a two-hundred day moving average of $19.01. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13. The firm has a market cap of $886.41 million, a price-to-earnings ratio of 21.48, a PEG ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLBGet Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.22 EPS. Equities research analysts anticipate that Core Laboratories will post 0.8 earnings per share for the current year.

Institutional Trading of Core Laboratories

Several institutional investors and hedge funds have recently added to or reduced their stakes in CLB. Headlands Technologies LLC purchased a new stake in Core Laboratories during the 2nd quarter valued at approximately $36,000. nVerses Capital LLC purchased a new stake in Core Laboratories during the 3rd quarter valued at approximately $48,000. GAMMA Investing LLC raised its stake in Core Laboratories by 23.9% during the 2nd quarter. GAMMA Investing LLC now owns 4,425 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 855 shares during the last quarter. Platinum Investment Management Ltd. raised its stake in shares of Core Laboratories by 13.9% during the 1st quarter. Platinum Investment Management Ltd. now owns 6,351 shares of the oil and gas company’s stock worth $108,000 after buying an additional 774 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Core Laboratories by 11.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 5,636 shares of the oil and gas company’s stock worth $114,000 after buying an additional 600 shares in the last quarter. 97.81% of the stock is owned by hedge funds and other institutional investors.

Core Laboratories Company Profile

(Get Free Report)

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.

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