Lowering Our Core Lab FVE Chiefly on Heightened Production Enhancement Competition
We are reducing our Core Laboratories fair value estimate to $67 (EUR 60) per share from $75 (EUR 66). This is due to more pessimistic long-term assumptions, particularly regarding the company's production enhancement segment. Our wide moat rating remains in place.Most important, we are reducing our midcycle (2023) revenue forecast for the production enhancement segment by 9% to about $370 million, which implies 28% cumulative growth versus 2018 levels. This runs ahead of our forecast for cumul...
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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