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

Core Laboratories Inc. (NYSE:CLB) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 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 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 Stock Up 3.3 %

Core Laboratories stock opened at $17.07 on Friday. The company has a market cap of $799.90 million, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 0.94 and a beta of 2.40. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94. The company has a fifty day simple moving average of $16.29 and a 200 day simple moving average of $17.66. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71.

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

Wall Street Analyst Weigh In

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

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.