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

Core Laboratories Inc. (NYSE:CLB) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Investors of record on Monday, November 4th will be given a dividend of 0.01 per share by the oil and gas company on Monday, November 25th. This represents a $0.04 annualized dividend and a yield of 0.21%. The ex-dividend date of this dividend is Monday, November 4th.

Core Laboratories has decreased its dividend payment by an average of 47.7% per year over the last three years. Core Laboratories has a dividend payout ratio of 3.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Core Laboratories to earn $1.20 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 3.3%.

Core Laboratories Trading Up 10.8 %

NYSE CLB traded up $1.85 during trading on Thursday, hitting $18.93. The stock had a trading volume of 684,769 shares, compared to its average volume of 434,758. The company has a market capitalization of $887.82 million, a PE ratio of 21.03, a PEG ratio of 1.08 and a beta of 2.36. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.13. The company has a quick ratio of 1.68, a current ratio of 2.39 and a debt-to-equity ratio of 0.60. The firm has a 50 day moving average price of $18.54 and a 200 day moving average price of $18.96.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm had revenue of $134.40 million for the quarter, compared to the consensus estimate of $134.16 million. Core Laboratories had a net margin of 5.44% and a return on equity of 15.20%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.22 EPS. As a group, equities research analysts forecast that Core Laboratories will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on CLB. Bank of America lowered their price objective on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. Piper Sandler dropped their price objective on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, July 15th. StockNews.com cut shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus increased their target price on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $18.00.

About Core Laboratories

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.