Citigroup Forecasts Strong Price Appreciation for Core Laboratories (NYSE:CLB) Stock

Core Laboratories (NYSE:CLB) had its target price raised by equities researchers at Citigroup from $14.00 to $15.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sell” rating on the oil and gas company’s stock. Citigroup’s target price would indicate a potential downside of 12.33% from the stock’s previous close.

Separately, StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.25.

Core Laboratories Stock Up 1.4 %

Shares of CLB stock traded up $0.23 during trading hours on Thursday, reaching $17.11. The company had a trading volume of 65,708 shares, compared to its average volume of 305,345. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $25.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.71. The business has a fifty day simple moving average of $18.08 and a 200-day simple moving average of $18.85. The company has a market cap of $801.26 million, a price-to-earnings ratio of 25.93, a price-to-earnings-growth ratio of 1.05 and a beta of 2.38.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. On average, research analysts expect that Core Laboratories will post 0.96 earnings per share for the current fiscal year.

Institutional Trading of Core Laboratories

Large investors have recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in Core Laboratories in the fourth quarter worth $26,000. Smartleaf Asset Management LLC increased its position in Core Laboratories by 173.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,037 shares of the oil and gas company’s stock worth $35,000 after buying an additional 1,293 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Core Laboratories by 2,688.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,426 shares of the oil and gas company’s stock worth $42,000 after buying an additional 2,339 shares during the last quarter. Tower Research Capital LLC TRC increased its position in 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 worth $57,000 after buying an additional 2,936 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in Core Laboratories in the fourth quarter worth $123,000. 97.81% of the stock is owned by hedge funds and other institutional investors.

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.