Stock Analysis:Core Laboratories (NYSE:CLB) Stock Target Raised
In a comprehensive report distributed to Clients by RBC Capital Markets on 18 December, Core Laboratories (NYSE:CLB) had its PT boosted to $130.00. The firm now has a solid Outperform rating on shares.
From a total of 12 analysts covering Core Laboratories (NYSE:CLB) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $160 while the lowest target price is $86. The mean of all analyst targets is $123.83 with a 7.74% above today’s ($108.48) stock price. Core Laboratories was the topic of 11 analyst reports since August 24, 2015 according to the firm StockzIntelligence Inc. KLR Group initiated shares on December 14 with “Buy” rating. Cowen & Co maintained CLB stock in a recent report from October 26 with “Market Perform” rating. Finally, Sterne Agee CRT maintained the stock with “Neutral” rating in a report issued on a September 30.
The stock decreased 2.86% or $3.19 during the last trading session, striking $108.48. Approximately 1.08M shares of stock traded hands or 101.88% up from the average. Core Laboratories N.V. (NYSE:CLB) has declined 12.37% since May 15, 2015 and is downtrending. It has underperformed by 8.57% the S&P500.
The overall sentiment of institutions has increased to 1.13 in Q2 2015. Its up 0.19, from 0.94 in 2015Q2. The ratio is positive, as 44 institutions have sold all the shares of Core Laboratories N.V. that they owned while 111 funds have taken shares off the table. 41 funds have purchased shares for the first time while 134 added to their positions. These institutions now hold 55.25 million shares or 29.25% more than the 42.74 million shares they owned in 2015Q2.
The Fund Chautauqua Capital Management currently is holding shares equating to 11.16% of its total portfolio in Core Laboratories N.V. representing a total of 339,730 shares. Another fund,Archon Capital Management Llc, is holding a total of 101,200 shares equating to 8.88% of their holdings. Additionally, Underhill Investment Management Llc has a 132,205 share stake in Core Laboratories N.V. which represents 6.5% of their total portfolio. The Fund, Wcm Investment Management Ca, based out of California, has also built up a stake in the stock, which represents a total of 5.49% of their total portfolio. Finally Mcdonald Capital Investors Inc Ca, a fund which is based in the state of California reported a total holdings of 310,931 shares.
Core Laboratories N.V. is a well-known provider of proprietary and patented reservoir description, production enhancement and reservoir management services to the gas and oil industry. The company has a market cap of $4.73 billion. These services and products are directed toward enabling its clients to improve reservoir performance and increase gas and oil recovery from their producing fields. It has 28.42 P/E ratio. The Firm operates in three divisions: Reservoir Description, Production Enhancement and Reservoir Management.
According to Zacks Investment Research, “Based in the Netherlands, Core Laboratories provides geological and environmental analysis services and manufactures precise measurement equipment. The company provides basic and advanced reservoir rock and fluid analyses and other geological services to the oil industry. It provides information that helps oil companies make decisions regarding the presence and amount of hydrocarbon accumulations. The company’s manufacturing operations include the design and production of laboratory equipment used in the petroleum industry.”