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

Core Laboratories (NYSE:CLB) had its target price cut by analysts at Citigroup from $15.00 to $14.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “sell” rating on the oil and gas company’s stock. Citigroup’s price target indicates a potential downside of 25.93% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Monday. Bank of America lowered their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note on Monday, July 15th. Piper Sandler lowered their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus boosted their price objective on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $17.00.

Core Laboratories Price Performance

Shares of NYSE:CLB traded down $0.38 during trading on Thursday, reaching $18.90. The stock had a trading volume of 216,225 shares, compared to its average volume of 430,907. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The business has a fifty day moving average price of $18.57 and a 200-day moving average price of $19.01. The stock has a market cap of $886.41 million, a PE ratio of 21.48, a PEG ratio of 1.08 and a beta of 2.36. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. The firm had revenue of $134.40 million for the quarter, compared to analyst estimates of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.22 earnings per share. On average, equities analysts forecast that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Core Laboratories

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

Core Laboratories Company Profile

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.