Core Laboratories N.V. (CLB) Volatility Spurs A Quest For Clarity

    SBUX Stock
    SBUX Stock

    Van Eck Associates Corp. recently announced the acquisition of new stake in Core Laboratories N.V. (NYSE:CLB). The institutional investor has increased its shareholding in the Energy company by 118.31% to 5.5 million shares with purchase of 2.98 million shares. This fresh investment now brings its stake to 12.38% valued currently at $111.27 million. In addition, The Vanguard Group, Inc. raised its holdings by 0.57 million to 4.89 million shares. And EARNEST Partners LLC has lifted its position by 0.99% or 29038.0 shares – to 2.96 million shares.

    With over 0.74 million Core Laboratories N.V. (CLB) shares trading Monday and a closing price of $21.86 on the day, the dollar volume was approximately $16.13 million. The shares have shown a positive weekly performance of 11.19% and its price on 07/06/20 gained nearly 2.77%. Currently, there are 44.45M common shares owned by the public and among those 43.83M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for CLB have a consensus price objective of $17.12. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $8.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Core Laboratories N.V. stock is 2.90 for the next 12 months. The average price target is -29.2% below its last price level and a downside to the estimated low will see the stock lose -157.18% over that period. But an upside of 8.92% will see the stock hit the forecast high price target while mean target price for the stock is $17.00.

    Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 78,973 shares. Insider sales of the common stock occurred on 17 occasions, with total insider shares sold totaling 26,528 shares.

    The top 3 mutual fund holders in Core Laboratories N.V. are VanEck Vectors – Morningstar Wide, iShares Core S&P Small Cap ETF, and MFS International Intrinsic Value. VanEck Vectors – Morningstar Wide owns 4.42 million shares of the company’s stock, all valued at over $89.3 million. The company bought an additional 3533.0 shares recently to bring their total holdings to about 9.93% of the shares outstanding. iShares Core S&P Small Cap ETF bought 1170.0 shares to see its total holdings expand to 2.65 million shares valued at over $53.49 million and representing 5.95% of the shares outstanding. MFS International Intrinsic Value has total holdings to over 2.37 million shares at a value of $47.9 million. MFS International Intrinsic Value now owns shares totaling to 5.33% of the shares outstanding.

    Shares of Core Laboratories N.V. (NYSE: CLB) opened at $22.25, up $0.98 from a prior closing price of $21.27. However, the script later closed the day at $21.86, up 2.77%. The company’s stock has a 5-day price change of 11.19% and 120.81% over the past three months. CLB shares are trading -41.97% year to date (YTD), with the 12-month market performance down to -59.10% lower. It has a 12-month low price of $6.68 and touched a high of $56.03 over the same period. Currently, 0.74 million shares have been traded, compared to an average intraday trading volume of 1.50 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -1.06%, 8.93%, and -29.58% respectively.

    Institutional ownership of Core Laboratories N.V. (NYSE: CLB) shares is 44.45M shares outstanding. Mutual fund holders own 49.01%, while other institutional holders and individual stakeholders account for 70.01% and 2.37% respectively.

    It has a market capitalization of $929.71M and a beta (3y monthly) value of 3.05. The stock’s earnings-per-share (ttm) stands at -$1.23. The company has a Quick Ratio of 1.50 with the debt-to-equity ratio at 4.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.70% over the week and 8.41% over the month.

    Analysts forecast that Core Laboratories N.V. (CLB) will achieve an EPS of $0.1 for the current quarter, $0.11 for the next quarter and $0.59 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of $0.15. Comparatively, EPS for the current quarter was $0.46 a year ago. Earnings per share for the fiscal year are expected to increase by 17.80%, and 18.24% over the next financial year. EPS should grow at an annualized rate of -14.10% over the next five years, compared to -18.20% over the past 5-year period.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Core Laboratories N.V. (CLB) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 9 of the 18 advise that investors “hold,” and 3 rated it as a “Sell.”

    Looking at the support for the CLB, a number of firms have released research notes about the stock. Scotiabank stated their Sector Outperform rating for the stock in a research note on April 13, 2020, with the firm’s price target at $13. Evercore ISI coverage for the Core Laboratories N.V. (CLB) stock in a research note released on March 09, 2020 offered a In-line rating with a price target of . BofA/Merrill was of a view on March 09, 2020 that the stock is Underperform, while Cowen gave the stock Market Perform rating on January 31, 2020, issuing a price target of $39- $36. Johnson Rice on their part issued Buy rating on January 30, 2020.


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