Core Laboratories (NYSE:CLB) Price Target Cut to $20.00 by Analysts at Stifel Nicolaus

Core Laboratories (NYSE:CLB – Get Rating) had its target price cut by Stifel Nicolaus from $26.00 to $20.00 in a research report released on Tuesday morning, The Fly reports.

A number of other research firms have also recently issued reports on CLB. StockNews.com raised shares of Core Laboratories from a sell rating to a hold rating in a report on Wednesday, May 11th. Piper Sandler lowered shares of Core Laboratories from a neutral rating to an underweight rating and lifted their target price for the company from $19.50 to $21.30 in a research report on Monday, April 18th. Finally, Morgan Stanley lowered their price target on shares of Core Laboratories from $32.00 to $22.00 and set an equal weight rating on the stock in a research report on Wednesday, July 13th.

Core Laboratories Stock Down 3.3 %

Shares of CLB stock opened at $17.28 on Tuesday. The stock has a market cap of $800.20 million, a P/E ratio of 82.29 and a beta of 2.74. Core Laboratories has a 52 week low of $15.21 and a 52 week high of $35.97. The company has a quick ratio of 1.54, a current ratio of 2.03 and a debt-to-equity ratio of 1.14. The company’s fifty day simple moving average is $22.03 and its two-hundred day simple moving average is $26.16.

Core Laboratories (NYSE:CLB – Get Rating) last issued its earnings results on Wednesday, April 27th. The oil and gas company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Core Laboratories had a net margin of 2.04% and a return on equity of 18.28%. The business had revenue of $115.30 million for the quarter, compared to the consensus estimate of $111.63 million. During the same period in the prior year, the firm earned $0.15 EPS. Analysts predict that Core Laboratories will post 0.68 EPS for the current fiscal year.

Institutional Investors Weigh In On Core Laboratories

Hedge funds have recently modified their holdings of the company. Everence Capital Management Inc. lifted its holdings in shares of Core Laboratories by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 50,980 shares of the oil and gas company’s stock worth $1,137,000 after acquiring an additional 11,310 shares during the period. Yousif Capital Management LLC purchased a new stake in shares of Core Laboratories during the fourth quarter valued at approximately $915,000. Morningstar Investment Services LLC raised its stake in shares of Core Laboratories by 1.2% during the fourth quarter. Morningstar Investment Services LLC now owns 137,042 shares of the oil and gas company’s stock valued at $3,058,000 after purchasing an additional 1,682 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Core Laboratories by 47.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,512 shares of the oil and gas company’s stock valued at $145,000 after purchasing an additional 2,105 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Core Laboratories by 40.4% during the fourth quarter. Fisher Asset Management LLC now owns 837,079 shares of the oil and gas company’s stock valued at $18,675,000 after purchasing an additional 240,721 shares during the period. 92.56% of the stock is owned by institutional investors and hedge funds.

About Core Laboratories

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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 through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, reservoir fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.