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

Core Laboratories (NYSE:CLB) was upgraded by research analysts at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. The firm presently has a $16.00 price target on the oil and gas company’s stock, up from their prior price target of $15.00. Citigroup’s price target indicates a potential upside of 9.18% from the company’s previous close.

Core Laboratories Trading Down 1.3 %

Shares of NYSE:CLB opened at $14.66 on Wednesday. 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 12 month low of $12.95 and a 12 month high of $25.13. The company’s fifty day simple moving average is $17.28 and its 200 day simple moving average is $18.39. The firm has a market cap of $686.25 million, a price-to-earnings ratio of 22.20, a PEG ratio of 0.99 and a beta of 2.38.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of CLB. State Street Corp boosted its holdings in shares of Core Laboratories by 2.9% during the 3rd quarter. State Street Corp now owns 1,975,016 shares of the oil and gas company’s stock worth $36,597,000 after buying an additional 56,187 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Core Laboratories by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,053,204 shares of the oil and gas company’s stock worth $19,521,000 after buying an additional 7,721 shares during the period. Boston Trust Walden Corp boosted its holdings in shares of Core Laboratories by 2.7% during the 4th quarter. Boston Trust Walden Corp now owns 617,336 shares of the oil and gas company’s stock worth $10,686,000 after buying an additional 16,503 shares during the period. Barclays PLC boosted its holdings in shares of Core Laboratories by 288.2% during the 3rd quarter. Barclays PLC now owns 83,570 shares of the oil and gas company’s stock worth $1,549,000 after buying an additional 62,042 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Core Laboratories by 3.1% during the 4th quarter. Principal Financial Group Inc. now owns 229,096 shares of the oil and gas company’s stock worth $3,966,000 after buying an additional 6,827 shares during the period. Institutional investors own 97.81% of the company’s stock.

About Core Laboratories

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.