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

Core Laboratories Inc. (NYSE:CLB) declared 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 0.23%. The ex-dividend date is Friday, May 3rd.

Core Laboratories has decreased its dividend payment by an average of 43.7% annually over the last three years. Core Laboratories has a 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 Trading Up 2.3 %

NYSE:CLB traded up $0.40 on Friday, reaching $17.47. The company’s stock had a trading volume of 26,761 shares, compared to its average volume of 462,193. 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 0.71, a quick ratio of 1.72 and a current ratio of 2.53. The firm has a market cap of $818.64 million, a PE ratio of 19.40, a PEG ratio of 0.94 and a beta of 2.40. The business’s 50-day moving average price is $16.29 and its two-hundred day moving average price is $17.66.

Core Laboratories (NYSE:CLB) last posted its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a return on equity of 15.90% and a net margin of 8.18%. The firm had revenue of $129.64 million during the quarter, compared to analysts’ expectations of $124.47 million. Equities research analysts anticipate that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CLB shares. Bank of America cut their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a report on Monday, April 15th. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a report on Saturday, January 20th. Finally, Stifel Nicolaus cut their price target on Core Laboratories from $21.00 to $17.00 and set a “hold” rating on the stock in a report on Monday, February 5th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, Core Laboratories presently has a consensus rating of “Hold” and an average target price of $18.50.

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.