Core Laboratories N.V.
Core Laboratories N.V. (NYSE: CLB) is a global leader in providing the oil and gas sector with proprietary and patented reservoir description and production enhancement services and solutions. These services and solutions can help its clients to improve reservoir performance and recover more oil and gas from their producing fields. CLB employs roughly 3,700 people and has over 70 offices in 50 countries.
Why should Investors Book Profits?
Valuation Methodology: Price/Earnings Per Share Based Relative Valuation
(Analysis by Kalkine Group)
* % Premium/(Discount) is based on our assessment of the company's FY1 trading multiple after considering its key growth drivers, economic moat, stock's historical trading multiples versus peer average/median, and investment risks.
CLB's stock price has surged 27.37% in the past week and is currently leaning towards the mid-band of its 52-week range of USD 21.08 to USD 49.87. We have valued the stock using the Price/Earnings-based relative valuation methodology and arrived at a target price of USD 30.00.
Considering the significant rise in the share price in a short span, leveraged balance sheet, the decline in revenues, stress on margins, and other technical indicators, we recommend a "Sell" rating on the stock at the closing price of USD 35.04, up 13.07% as of March 08, 2022.
Three-Year Technical Price Chart (as of March 08, 2022). Source: REFINITIV, Analysis by Kalkine Group
* The reference data in this report has been partly sourced from REFINITIV.
* All forecasted figures and industry information have been taken from REFINITIV.