Core Laboratories Inc. Declares Quarterly Dividend of $0.01 (NYSE:CLB)

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be given a dividend of 0.01 per share by the oil and gas company on Tuesday, May 28th. This represents a $0.04 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, May 3rd.

Core Laboratories has decreased its dividend payment by an average of 47.7% annually over the last three years. Core Laboratories has a dividend payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Core Laboratories to earn $1.09 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 3.7%.

Core Laboratories Price Performance

Core Laboratories stock opened at $15.78 on Wednesday. The stock has a market cap of $740.08 million, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 0.96 and a beta of 2.40. The firm has a 50-day moving average of $16.39 and a two-hundred day moving average of $17.49. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.68 and a quick ratio of 1.85.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. The business had revenue of $129.64 million for the quarter, compared to the consensus estimate of $124.47 million. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. On average, research analysts forecast that Core Laboratories will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Bank of America cut their target price on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. Stifel Nicolaus increased their price objective on shares of Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, April 26th. Finally, StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.75.

Core Laboratories Company Profile

Core Laboratories Inc provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, and internationally. It operates through Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock and reservoir fluid samples to enhance production and improve recovery of crude oil and gas from its clients' reservoirs.