Why Has KLR Group Given Core Laboratories (NYSE:CLB) a $155.00 Price Target
KLR Group has just issued a “Buy” rating for Core Laboratories (NYSE:CLB) shares. The firm began issuing coverage on shares of CLB in analysts note distributed on 14 December. This TP would suggest upside of 37.83% from the last stock close of Core Laboratories (NYSE:CLB).
From a total of 11 analysts covering Core Laboratories (NYSE:CLB) stock, 9 rate it a ”Buy”, 0 a “Sell”, and 6 a ”Hold”. This means that 60% 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 $121 with a -0.70% below today’s ($112.22) stock price. Core Laboratories was the topic of 10 analyst reports since August 24, 2015 according to the firm StockzIntelligence Inc. Guggenheim upgraded shares on November 30 to “Buy” rating. RBC Capital Markets maintained CLB stock in a recent report from October 23 with “Outperform” rating.
Approximately 97,086 shares of stock traded hands. Core Laboratories N.V. (NYSE:CLB) has declined 11.92% since May 11, 2015 and is downtrending. It has underperformed by 7.51% 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 improved, 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 $4.74 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 29.4 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.”