November 29, 2016 - By Ruchi Gupta · 0 Comments
Core Laboratories N V (NYSE:CLB) institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.04, from 1.09 in 2016Q1. The ratio improved, as 169 hedge funds increased and opened new holdings, while 155 reduced and sold their holdings in Core Laboratories N V. The hedge funds in our partner’s database now hold: 43.11 million shares, up from 43.00 million shares in 2016Q1. Also, the number of hedge funds holding Core Laboratories N V in their top 10 holdings was flat from 7 to 7 for the same number . Sold All: 37 Reduced: 118 Increased: 116 New Position: 53.
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the gas and oil industry. The company has a market cap of $4.57 billion. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase gas and oil recovery from their producing fields. It has a 71.28 P/E ratio. The Firm has over 70 offices in over 50 countries.
About 158,642 shares traded hands. Core Laboratories N.V. (NYSE:CLB) has declined 17.74% since April 26, 2016 and is downtrending. It has underperformed by 23.00% the S&P500.
Analysts await Core Laboratories N.V. (NYSE:CLB) to report earnings on January, 25. They expect $0.40 earnings per share, down 38.46% or $0.25 from last year’s $0.65 per share. CLB’s profit will be $17.35M for 65.99 P/E if the $0.40 EPS becomes a reality. After $0.38 actual earnings per share reported by Core Laboratories N.V. for the previous quarter, Wall Street now forecasts 5.26% EPS growth.
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.”
Wcm Investment Management Ca holds 7.09% of its portfolio in Core Laboratories N.V. for 3.59 million shares. Underhill Investment Management Llc owns 92,330 shares or 6.17% of their US portfolio. Moreover, Archon Capital Management Llc has 5.2% invested in the company for 34,900 shares. The Illinois-based Sheffield Asset Management L.L.C. has invested 5.07% in the stock. Wedgewood Partners Inc, a Missouri-based fund reported 1.69 million shares.#img1#
Ratings analysis reveals 53% of Core Laboratories’s analysts are positive. Out of 15 Wall Street analysts rating Core Laboratories, 8 give it “Buy”, 0 “Sell” rating, while 7 recommend “Hold”. The lowest target is $80 while the high is $155. The stock’s average target of $114.33 is 8.33% above today’s ($105.54) share price. CLB was included in 27 notes of analysts from August 24, 2015. The firm has “Neutral” rating by Citigroup given on Wednesday, September 28. The company was initiated on Thursday, September 1 by Credit Suisse. JP Morgan initiated it with “Overweight” rating and $120 target price in Friday, June 10 report. On Tuesday, January 26 the stock rating was downgraded by HSBC to “Red”. The rating was maintained by RBC Capital Markets on Friday, October 23 with “Outperform”. The rating was initiated by Oppenheimer with “Perform” on Tuesday, January 12. The firm earned “Sector Perform” rating on Friday, January 29 by Howard Weil. Morgan Stanley maintained the stock with “Overweight” rating in Tuesday, April 19 report. The stock has “Neutral” rating given by Citigroup on Friday, March 18. RBC Capital Markets upgraded it to “Outperform” rating and $130 target price in Friday, September 18 report.
Core Laboratories N.V., incorporated on July 8, 1994, is a well-known provider of reservoir description, production enhancement and reservoir management services to the gas and oil industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase gas and oil recovery from their producing fields. The Firm has over 70 offices in over 50 countries. The Firm operates in three divisions: Reservoir Description, Production Enhancement and Reservoir Management. These divisions provide different services and products and utilize different technologies for improving reservoir performance, and increasing gas and oil recovery from new and existing fields. The Firm offers its services through its global network of offices. The Firm makes products primarily in over four facilities for distribution on a global basis.
More notable recent Core Laboratories N.V. (NYSE:CLB) news were published by: Fool.com which released: “Core Laboratories NV’s Earnings Sparked a 13% Slide in October, Should …” on November 08, 2016, also Fool.com with their article: “Core Laboratories NV Earnings Bottom Out” published on July 21, 2016, Fool.com published: “What’s Core Laboratories N.V. Doing to Outperform Its Oil-Service Peers?” on November 08, 2015. More interesting news about Core Laboratories N.V. (NYSE:CLB) were released by: Seekingalpha.com and their article: “Core Laboratories NV (CLB) CEO David Demshur on Q3 2016 Results – Earnings …” published on October 20, 2016 as well as Prnewswire.com‘s news article titled: “Core Lab Reports Q3 2016 Results:” with publication date: October 19, 2016.
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By Ruchi Gupta