Weakness Seen in Core Laboratories (CLB): Stock Tanks 10.1%


Core Laboratories NV (CLB) saw a big move last session, as the company’s shares fell over 10% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as CLB is now trading below the volatile price range of $159.7 to $167.1 in the past one-month time frame.
This Oil company has seen a flat track record when it comes to current year estimate revisions, as there has been no revision on either side over the past few weeks. The consensus for earnings estimate hasn’t been in a trend either. This recent price action is discouraging, so make sure to keep a close watch on this firm in the near future, and especially on earnings estimates following the recent slump.
CLB currently has a Zacks Rank #4 (Sell).
Investors interested in the Oil Field Services industry may consider better-ranked stocks like Newpark Resources Inc. (NR), Flotek Industries Inc. (FTK) and Unit Corporation (UNT). All these stocks carry a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>

CORE LABORATORIES NV (CLB): Free Stock Analysis Report

NEWPARK RESOURCES INC (NR): Free Stock Analysis Report

FLOTEK INDS INC DEL (FTK): Free Stock Analysis Report

UNIT CORP (UNT): Free Stock Analysis Report

Zacks Investment Research

View Comments (0)