Core Laboratories (NYSE:CLB) Raised to “Neutral” at Citigroup

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

Core Laboratories Price Performance

Shares of NYSE:CLB opened at $14.70 on Wednesday. Core Laboratories has a 1-year low of $12.95 and a 1-year high of $25.13. The firm has a market capitalization of $688.12 million, a PE ratio of 22.27, a PEG ratio of 0.99 and a beta of 2.38. The business’s 50 day moving average is $17.24 and its 200-day moving average is $18.37. The company has a current ratio of 2.32, a quick ratio of 1.71 and a debt-to-equity ratio of 0.49.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. Sell-side analysts predict that Core Laboratories will post 0.96 earnings per share for the current year.

Institutional Trading of Core Laboratories

Institutional investors have recently bought and sold shares of the stock. Confluence Investment Management LLC boosted its stake 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 worth $2,360,000 after purchasing an additional 599 shares in the last quarter. Isthmus Partners LLC boosted 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 worth $194,000 after purchasing an additional 599 shares in the last quarter. Tidal Investments LLC boosted 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 worth $813,000 after purchasing an additional 716 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted 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 worth $463,000 after purchasing an additional 960 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted 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 worth $35,000 after purchasing an additional 1,293 shares in the last quarter. Institutional investors and hedge funds 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.