RBC Capital Thinks Core Laboratories’ Stock is Going to Recover


In a report released today, Kurt Hallead from RBC Capital reiterated a Buy rating on Core Laboratories (CLB), with a price target of $100. The company’s shares opened today at $63.24, close to its 52-week low of $56.72.

According to TipRanks.com, Hallead has 0 stars on 0-5 star ranking scale with an average return of -6.8% and a 34.4% success rate. Hallead covers the Basic Materials sector, focusing on stocks such as Ncs Multistage Holdings Inc, Covia Holdings Corporation, and Oceaneering International.

Core Laboratories has an analyst consensus of Moderate Buy, with a price target consensus of $94.78.

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Based on Core Laboratories’ latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $22.41 million. In comparison, last year the company had a net profit of $21.69 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CLB in relation to earlier this year.

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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.

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