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

Core Laboratories Inc. (NYSE:CLB) announced 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 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend 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 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

NYSE:CLB traded up $0.31 during trading hours on Friday, hitting $17.38. The company’s stock had a trading volume of 59,885 shares, compared to its average volume of 462,623. The stock has a fifty day simple moving average of $16.29 and a 200-day simple moving average of $17.66. The company has a market capitalization of $814.43 million, a P/E ratio of 19.40, a PEG ratio of 0.94 and a beta of 2.40. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $27.94.

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

Analyst Ratings Changes

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