Core Laboratories (CLB) Plans $0.55 Quarterly Dividend

Core Laboratories (NYSE:CLB) declared a quarterly dividend on Tuesday, January 16th, NASDAQ reports. Stockholders of record on Friday, January 26th will be given a dividend of 0.55 per share by the oil and gas company on Friday, February 16th. This represents a $2.20 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, January 25th.

Core Laboratories has increased its dividend payment by an average of 3.2% annually over the last three years. Core Laboratories has a dividend payout ratio of 110.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Core Laboratories to earn $2.70 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 81.5%.

Core Laboratories (CLB) opened at $116.00 on Friday. The firm has a market capitalization of $5,120.00, a price-to-earnings ratio of 67.05 and a beta of 1.56. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.81 and a current ratio of 2.18. Core Laboratories has a twelve month low of $86.55 and a twelve month high of $124.99.

Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Monday, October 23rd. The oil and gas company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. The firm had revenue of $166.20 million for the quarter, compared to analysts’ expectations of $160.94 million. Core Laboratories had a return on equity of 52.89% and a net margin of 12.06%. The company’s revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.38 EPS. sell-side analysts predict that Core Laboratories will post 1.99 earnings per share for the current fiscal year.

A number of brokerages recently commented on CLB. Zacks Investment Research cut Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. ABN Amro cut Core Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, January 9th. Cowen set a $100.00 target price on Core Laboratories and gave the stock a “hold” rating in a report on Friday, October 6th. Piper Jaffray Companies set a $97.00 target price on Core Laboratories and gave the stock a “hold” rating in a report on Monday, October 23rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating on shares of Core Laboratories in a report on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $110.20.

An institutional investor recently raised its position in Core Laboratories stock. The Manufacturers Life Insurance Company boosted its holdings in Core Laboratories (NYSE:CLB) by 63.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,128 shares of the oil and gas company’s stock after buying an additional 439 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Core Laboratories were worth $114,000 as of its most recent SEC filing.

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Core Laboratories Company Profile

Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.

Dividend History for Core Laboratories (NYSE:CLB)

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