Core Laboratories (NYSE:CLB) Receives $75.55 Average Price Target from Analysts

Core Laboratories (NYSE:CLB) has been given an average rating of “Hold” by the seventeen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $75.55.

Several brokerages recently commented on CLB. Royal Bank of Canada set a $77.00 price target on Core Laboratories and gave the company a “buy” rating in a research note on Wednesday, June 26th. Bank of America raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Wednesday, July 10th. Morgan Stanley reduced their target price on shares of Core Laboratories from $75.00 to $70.00 and set an “equal weight” rating on the stock in a research note on Friday, July 12th. Piper Jaffray Companies set a $52.00 target price on shares of Core Laboratories and gave the company a “hold” rating in a research note on Wednesday, June 26th. Finally, ValuEngine lowered shares of Core Laboratories from a “sell” rating to a “strong sell” rating in a report on Monday, July 29th.

NYSE:CLB traded up $0.71 during mid-day trading on Thursday, hitting $45.45. The company’s stock had a trading volume of 551,358 shares, compared to its average volume of 627,599. The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 19.93, a P/E/G ratio of 4.61 and a beta of 1.95. The company has a current ratio of 1.80, a quick ratio of 1.41 and a debt-to-equity ratio of 1.83. Core Laboratories has a fifty-two week low of $36.61 and a fifty-two week high of $122.11. The stock has a fifty day moving average of $42.76 and a 200-day moving average of $55.75.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.46 earnings per share for the quarter, meeting the consensus estimate of $0.46. Core Laboratories had a return on equity of 51.19% and a net margin of 14.30%. The company had revenue of $169.04 million for the quarter, compared to analyst estimates of $173.46 million. During the same period in the prior year, the company posted $0.59 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Core Laboratories will post 1.75 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 12th. Shareholders of record on Monday, July 22nd were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, July 19th. This represents a $2.20 annualized dividend and a yield of 4.84%. Core Laboratories’s payout ratio is 96.49%.

In other Core Laboratories news, Director Gregory Barry Barnett acquired 1,000 shares of Core Laboratories stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $40.00 per share, with a total value of $40,000.00. Following the completion of the purchase, the director now owns 11,000 shares in the company, valued at $440,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Core Laboratories by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 4,213,497 shares of the oil and gas company’s stock worth $220,282,000 after buying an additional 71,430 shares in the last quarter. Earnest Partners LLC raised its position in shares of Core Laboratories by 19.5% during the second quarter. Earnest Partners LLC now owns 2,308,539 shares of the oil and gas company’s stock worth $120,690,000 after acquiring an additional 377,223 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Core Laboratories by 0.7% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,564,837 shares of the oil and gas company’s stock valued at $81,811,000 after acquiring an additional 10,877 shares during the period. Van ECK Associates Corp lifted its stake in shares of Core Laboratories by 129.5% during the second quarter. Van ECK Associates Corp now owns 1,272,774 shares of the oil and gas company’s stock valued at $66,541,000 after acquiring an additional 718,280 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Core Laboratories by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 1,222,147 shares of the oil and gas company’s stock valued at $62,610,000 after acquiring an additional 21,810 shares during 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. 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.

See Also: Commodities

Analyst Recommendations for Core Laboratories (NYSE:CLB)

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