Morgan Stanley Downgrades Core Laboratories (NYSE:CLB) to Underweight

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Core Laboratories (NYSE:CLBGet Rating) was downgraded by stock analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a research note issued to investors on Monday, The Fly reports. They currently have a $20.00 target price on the oil and gas company’s stock. Morgan Stanley’s target price suggests a potential upside of 43.78% from the company’s current price.

Separately, Stifel Nicolaus lowered their price objective on Core Laboratories from $26.00 to $20.00 in a research note on Tuesday, July 26th.

Core Laboratories Stock Performance

Core Laboratories stock opened at $13.91 on Monday. The business has a 50 day moving average of $17.00 and a 200-day moving average of $22.99. Core Laboratories has a 1 year low of $13.75 and a 1 year high of $35.83. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.08 and a quick ratio of 1.53. The company has a market capitalization of $644.38 million, a P/E ratio of 73.21, a P/E/G ratio of 0.63 and a beta of 2.59.

Core Laboratories (NYSE:CLBGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The oil and gas company reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. Core Laboratories had a return on equity of 16.12% and a net margin of 1.82%. The company had revenue of $120.90 million during the quarter, compared to the consensus estimate of $121.35 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Core Laboratories will post 0.54 earnings per share for the current year.

Institutional Trading of Core Laboratories

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. boosted its holdings in Core Laboratories by 103.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 780 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Core Laboratories by 185.7% in the first quarter. Captrust Financial Advisors now owns 1,903 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 1,237 shares during the last quarter. First Bank & Trust boosted its holdings in Core Laboratories by 21.7% in the first quarter. First Bank & Trust now owns 2,561 shares of the oil and gas company’s stock valued at $81,000 after acquiring an additional 456 shares during the last quarter. Whittier Trust Co. bought a new position in shares of Core Laboratories during the 1st quarter worth approximately $95,000. Finally, US Bancorp DE boosted its holdings in shares of Core Laboratories by 15.3% during the 1st quarter. US Bancorp DE now owns 5,945 shares of the oil and gas company’s stock worth $188,000 after buying an additional 790 shares in the last quarter. 98.22% of the stock is currently owned by institutional investors.

About Core Laboratories

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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.

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