Stifel Nicolaus Issues Pessimistic Forecast for Core Laboratories (NYSE:CLB) Stock Price

Core Laboratories (NYSE:CLB) had its price objective dropped by equities researchers at Stifel Nicolaus from $13.00 to $12.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price points to a potential upside of 2.77% from the company’s previous close.

CLB has been the subject of several other research reports. Citigroup decreased their target price on shares of Core Laboratories from $16.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, May 13th. Wall Street Zen lowered Core Laboratories from a “hold” rating to a “sell” rating in a report on Friday, April 25th.

Core Laboratories Stock Up 3.1%

CLB opened at $11.68 on Wednesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.64 and a current ratio of 2.21. Core Laboratories has a one year low of $10.14 and a one year high of $25.13. The business’s 50-day simple moving average is $11.83 and its 200-day simple moving average is $14.15. The stock has a market capitalization of $547.37 million, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 3.48 and a beta of 1.41.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). Core Laboratories had a net margin of 5.41% and a return on equity of 15.06%. The company had revenue of $123.59 million during the quarter, compared to analysts’ expectations of $125.09 million. During the same period in the previous year, the company posted $0.19 EPS. Core Laboratories’s quarterly revenue was down 4.7% compared to the same quarter last year. Analysts anticipate that Core Laboratories will post 0.96 EPS for the current year.

Hedge Funds Weigh In On Core Laboratories

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its stake in shares of Core Laboratories by 265,800.0% in the first quarter. AlphaQuest LLC now owns 2,659 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 2,658 shares in the last quarter. Assetmark Inc. raised its position in shares of Core Laboratories by 92.5% in the first quarter. Assetmark Inc. now owns 2,887 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 1,387 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Core Laboratories by 843.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,284 shares of the oil and gas company’s stock valued at $57,000 after purchasing an additional 2,936 shares during the period. BNP Paribas Financial Markets purchased a new position in Core Laboratories during the fourth quarter valued at approximately $123,000. Finally, KLP Kapitalforvaltning AS bought a new stake in Core Laboratories during the fourth quarter valued at approximately $149,000. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.