Core Laboratories (CLB) Receives a Hold from Citigroup
In a report released today, Scott Gruber from Citigroup maintained a Hold rating on Core Laboratories (NYSE: CLB), with a price target of $116. The company’s shares closed yesterday at $109.37.
According to TipRanks.com, Gruber is a 2-star analyst with an average return of 1.6% and a 43.6% success rate. Gruber covers the Basic Materials sector, focusing on stocks such as Select Energy Services Inc, Schlumberger Limited, and Rowan Companies.
The word on The Street in general, suggests a Hold analyst consensus rating for Core Laboratories with a $111.80 average price target, implying a 2.2% upside from current levels. In a report issued on September 10, Stifel Nicolaus also initiated coverage with a Hold rating on the stock with a $117 price target.
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Based on Core Laboratories’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $24.75 million. In comparison, last year the company had a net profit of $22.69 million.
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Core Laboratories NV engages in the provision of proprietary and patented reservoir description, production enhancement, and reservoir management services to the oil and gas industry. It operates through the following business segments: Reservoir Description, Production Enhancement, and Reservoir Management.