Core Laboratories (NYSE:CLB) Trading 4.5% Higher

Shares of Core Laboratories (NYSE:CLB – Get Rating) were up 4.5% on Wednesday . The company traded as high as $25.20 and last traded at $25.15. Approximately 93,702 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 321,431 shares. The stock had previously closed at $24.07.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CLB. Citigroup upgraded shares of Core Laboratories from a “sell” rating to a “neutral” rating and reduced their target price for the company from $24.00 to $17.00 in a research report on Thursday, October 6th. StockNews.com began coverage on shares of Core Laboratories in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock. Finally, Bank of America raised shares of Core Laboratories from an “underperform” rating to a “neutral” rating in a report on Monday, January 9th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $19.58.

Core Laboratories Trading Up 4.4 %

The company has a 50 day moving average of $20.89 and a 200-day moving average of $18.62. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 72.94 and a beta of 2.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.61 and a current ratio of 2.23.

Core Laboratories (NYSE:CLB – Get Rating) last posted its quarterly earnings results on Wednesday, October 26th. The oil and gas company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.09 by $0.09. The business had revenue of $125.97 million during the quarter, compared to the consensus estimate of $126.14 million. Core Laboratories had a net margin of 3.16% and a return on equity of 15.71%. On average, research analysts anticipate that Core Laboratories will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Core Laboratories

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System lifted its stake in shares of Core Laboratories by 1.2% in the first quarter. California State Teachers Retirement System now owns 39,608 shares of the oil and gas company’s stock valued at $1,253,000 after purchasing an additional 481 shares during the period. Texas Permanent School Fund boosted its stake in shares of Core Laboratories by 2.0% during the 2nd quarter. Texas Permanent School Fund now owns 33,470 shares of the oil and gas company’s stock worth $663,000 after acquiring an additional 662 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Core Laboratories by 103.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 780 shares during the period. US Bancorp DE increased its stake in Core Laboratories by 15.3% in the 1st quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock valued at $188,000 after purchasing an additional 790 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in Core Laboratories by 16.6% during the second quarter. Mutual of America Capital Management LLC now owns 7,777 shares of the oil and gas company’s stock worth $154,000 after purchasing an additional 1,109 shares during the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.

Core Laboratories Company Profile

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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.