Core Lab Reports Flat 1Q Results; We Still See Shares as Highly Overvalued
Core Laboratories reported unremarkable first-quarter results with flat top- and bottom-line growth, in line with management guidance. Our fair value estimate and wide moat rating are unchanged. With the shares trading at a 50% premium to our fair value estimate, we see Core Lab as one of the most overvalued companies in oilfield services. Despite our very positive view of Core’s moat and management quality, we think investor expectations for the company’s long-term growth remain too high.In th...
Core Laboratories is a holding company. Co. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. Co. has three segments: reservoir description, which encompasses the characterization of petroleum reservoir rock, fluid and gas samples; production enhancement, which includes products and services relating to reservoir well completions, perforations, stimulations and production; and reservoir management, which combines and integrates information from reservoir description and production enhancement services to increase production and improve recovery of oil and gas from its clients' reservoirs.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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