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. Stockholders of record on Monday, November 4th will be paid 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 dividend 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 payout ratio of 3.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Core Laboratories to earn $1.05 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 3.8%.

Core Laboratories Price Performance

Shares of NYSE:CLB opened at $18.90 on Friday. The company has a market capitalization of $887.36 million, a price-to-earnings ratio of 29.08, a PEG ratio of 1.34 and a beta of 2.36. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $25.13. The business has a 50-day moving average price of $18.60 and a 200 day moving average price of $19.02. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.04. Core Laboratories had a net margin of 5.83% and a return on equity of 15.84%. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. During the same period last year, the business earned $0.22 earnings per share. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. Sell-side analysts expect that Core Laboratories will post 0.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus upped their price target on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Monday, October 28th. Piper Sandler dropped their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Monday, July 15th. Bank of America reduced their price target on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research report on Monday, July 15th. Finally, Citigroup lowered their price objective on shares of Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating and three have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.00.

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.