Should Investors Be Selling Core Laboratories (NYSE:CLB) Shares? JP Morgan Downgrades Stock

Core Laboratories N.V. (NYSE:CLB) Logo

Investors sentiment decreased to 1.05 in 2018 Q3. Its down 0.05, from 1.1 in 2018Q2. It turned negative, as 34 investors sold Core Laboratories N.V. shares while 100 reduced holdings. 41 funds opened positions while 100 raised stakes. 47.88 million shares or 0.90% less from 48.31 million shares in 2018Q2 were reported.

7,394 are owned by Torray Limited Company. Captrust Financial Advisors holds 0.01% or 1,542 shares. Aviva Public Limited Com invested 0.01% of its portfolio in Core Laboratories N.V. (NYSE:CLB). Advisory Ser Net Ltd Liability Company holds 353 shares or 0% of its portfolio. Arkansas-based Stephens Ar has invested 0.01% in Core Laboratories N.V. (NYSE:CLB). Dillon & Associate stated it has 4,450 shares or 0.17% of all its holdings. Wells Fargo And Company Mn reported 0.02% in Core Laboratories N.V. (NYSE:CLB). Ls Investment Advsr Ltd Co has 2,413 shares. Deutsche Bank Ag invested 0% of its portfolio in Core Laboratories N.V. (NYSE:CLB). Rmb Capital Mgmt Limited Liability owns 145,204 shares. Goldman Sachs Grp Inc Inc invested 0% of its portfolio in Core Laboratories N.V. (NYSE:CLB). Northwestern Mutual Wealth Mgmt invested 0% of its portfolio in Core Laboratories N.V. (NYSE:CLB). Mechanics Commercial Bank Trust Department has 2,500 shares. Eaton Vance Mgmt has 0.03% invested in Core Laboratories N.V. (NYSE:CLB) for 117,310 shares. Telemus Cap Lc stated it has 0.27% of its portfolio in Core Laboratories N.V. (NYSE:CLB).

Since August 14, 2018, it had 1 insider purchase, and 1 sale for $8,930 activity. 200 shares were bought by Sodderland Jan Willem, worth $17,152 on Monday, October 29.

Core Laboratories (NYSE:CLB) Receives a Downgrade

The stock rating of Core Laboratories (NYSE:CLB) was decreased by stock analysts at JP Morgan from a the old “Overweight” rating to a more updated “Neutral” in a research report sent to investors and clients on 11 December. The brokerage firm now has a $79 target on shares, suggesting a possible upside of 13.36 %.

Core Laboratories N.V. (NYSE:CLB) Ratings Coverage

Among 8 analysts covering Core Laboratories (NYSE:CLB), 6 have Buy rating, 0 Sell and 2 Hold. Therefore 75% are positive. Core Laboratories has $125 highest and $105 lowest target. $111.40’s average target is 59.85% above currents $69.69 stock price. Core Laboratories had 13 analyst reports since July 27, 2018 according to SRatingsIntel. Credit Suisse maintained Core Laboratories N.V. (NYSE:CLB) rating on Friday, October 26. Credit Suisse has “Outperform” rating and $105 target. Citigroup upgraded the shares of CLB in report on Tuesday, August 14 to “Neutral” rating. The stock of Core Laboratories N.V. (NYSE:CLB) earned “Overweight” rating by JP Morgan on Monday, September 17. The company was upgraded on Thursday, November 1 by ABN Amro. JP Morgan maintained the shares of CLB in report on Friday, July 27 with “Overweight” rating. The stock has “Buy” rating by Guggenheim on Friday, November 16. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, October 11. On Monday, October 29 the stock rating was upgraded by Stifel Nicolaus to “Buy”. The stock of Core Laboratories N.V. (NYSE:CLB) has “Neutral” rating given on Friday, September 14 by Citigroup. The rating was maintained by Morgan Stanley with “Equal-Weight” on Monday, October 29.

The stock decreased 4.66% or $3.41 during the last trading session, reaching $69.69. About 957,448 shares traded or 81.02% up from the average. Core Laboratories N.V. (NYSE:CLB) has declined 26.38% since December 12, 2017 and is downtrending. It has underperformed by 26.38% the S&P500.

Analysts await Core Laboratories N.V. (NYSE:CLB) to report earnings on January, 30. They expect $0.50 earnings per share, down 13.79 % or $0.08 from last year’s $0.58 per share. CLB’s profit will be $22.11M for 34.85 P/E if the $0.50 EPS becomes a reality. After $0.64 actual earnings per share reported by Core Laboratories N.V. for the previous quarter, Wall Street now forecasts -21.88 % negative EPS growth.

Core Laboratories N.V. provides reservoir description, production enhancement, and reservoir management services to the gas and oil industry in the United States, Canada, and internationally. The company has market cap of $3.08 billion. It operates through three divisions: Reservoir Description, Production Enhancement, and Reservoir Management. It has a 33.47 P/E ratio. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples.

More notable recent Core Laboratories N.V. (NYSE:CLB) news were published by: Seekingalpha.com which released: “Core Laboratories Remains Highly Overvalued – Seeking Alpha” on April 29, 2018, also Globenewswire.com with their article: “New Research Coverage Highlights CAS Medical, Saia, Core Laboratories NV, Perceptron, CRISPR Therapeutics AG, and IEC Electronics — Consolidated Revenues, Company Growth, and Expectations for 2018 – GlobeNewswire” published on November 13, 2018, Fool.com published: “8,545 Reasons to Closely Watch These 2 Oil Stocks in 2019 – The Motley Fool” on November 23, 2018. More interesting news about Core Laboratories N.V. (NYSE:CLB) were released by: Fool.com and their article: “Why Core Laboratories N.V. Stock Is Sinking Today – The Motley Fool” published on July 02, 2018 as well as Seekingalpha.com‘s news article titled: “Schlumberger Rings The Alarm On North America – Seeking Alpha” with publication date: December 08, 2018.

Core Laboratories N.V. (NYSE:CLB) Ratings Chart

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