Core Laboratories (NYSE:CLB) Upgraded by Citigroup to “Neutral” Rating

Core Laboratories (NYSE:CLB) was upgraded by Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday, Marketbeat.com reports. The brokerage currently has a $16.00 target price on the oil and gas company’s stock, up from their previous target price of $15.00. Citigroup’s price objective points to a potential upside of 8.88% from the company’s current price.

Core Laboratories Trading Down 2.6 %

CLB stock opened at $14.70 on Wednesday. The business has a fifty day moving average of $17.24 and a 200-day moving average of $18.37. The company has a market cap of $688.12 million, a P/E ratio of 22.27, a PEG ratio of 0.99 and a beta of 2.38. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.49. Core Laboratories has a twelve month low of $12.95 and a twelve month high of $25.13.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $0.23 EPS 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%. As a group, equities research analysts expect that Core Laboratories will post 0.96 EPS for the current year.

Institutional Investors Weigh In On Core Laboratories

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Confluence Investment Management LLC increased its holdings in Core Laboratories by 0.4% in the fourth quarter. Confluence Investment Management LLC now owns 136,359 shares of the oil and gas company’s stock valued at $2,360,000 after purchasing an additional 599 shares during the last quarter. Isthmus Partners LLC grew its stake in Core Laboratories by 5.6% in the fourth quarter. Isthmus Partners LLC now owns 11,219 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 599 shares during the period. Tidal Investments LLC grew its stake in Core Laboratories by 1.7% in the third quarter. Tidal Investments LLC now owns 43,862 shares of the oil and gas company’s stock valued at $813,000 after acquiring an additional 716 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Core Laboratories by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 26,723 shares of the oil and gas company’s stock valued at $463,000 after acquiring an additional 960 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake 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 valued at $35,000 after acquiring an additional 1,293 shares during the period. 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.