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

Core Laboratories (NYSE:CLB) had its price target decreased by research analysts at Citigroup from $16.00 to $13.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas company’s stock. Citigroup’s price objective would suggest a potential upside of 6.04% from the company’s current price.

A number of other analysts also recently issued reports on the company. Stifel Nicolaus dropped their price target on Core Laboratories from $19.00 to $15.00 and set a “hold” rating for the company in a research report on Tuesday, April 15th. StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $15.00.

Core Laboratories Stock Down 1.6%

CLB stock opened at $12.26 on Tuesday. The company has a quick ratio of 1.71, a current ratio of 2.32 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $574.79 million, a PE ratio of 18.58, a PEG ratio of 0.99 and a beta of 1.45. Core Laboratories has a twelve month low of $10.14 and a twelve month high of $25.13. The stock has a 50-day simple moving average of $13.12 and a two-hundred day simple moving average of $16.58.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, April 23rd. The oil and gas company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The company had revenue of $123.59 million for the quarter, compared to analysts’ expectations of $125.09 million. Core Laboratories had a net margin of 5.99% and a return on equity of 16.24%. The firm’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities analysts predict that Core Laboratories will post 0.96 EPS for the current fiscal year.

Institutional Trading of Core Laboratories

A number of hedge funds have recently bought and sold shares of CLB. Hotchkis & Wiley Capital Management LLC bought a new stake in Core Laboratories in the 1st quarter worth approximately $6,008,000. Raymond James Financial Inc. bought a new stake in Core Laboratories in the 4th quarter worth approximately $6,760,000. Nuveen LLC bought a new stake in Core Laboratories in the 1st quarter worth approximately $2,573,000. Rice Hall James & Associates LLC bought a new stake in Core Laboratories in the 4th quarter worth approximately $1,960,000. Finally, Norges Bank bought a new stake in Core Laboratories in the 4th quarter worth approximately $1,910,000. 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.