Core Laboratories (NYSE:CLB) declared a quarterly dividend on Tuesday, October 8th, Zacks reports. Stockholders of record on Friday, October 18th will be given a dividend of 0.55 per share by the oil and gas company on Tuesday, November 19th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Thursday, October 17th.
Core Laboratories has a payout ratio of 90.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Core Laboratories to earn $2.13 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 103.3%.
Core Laboratories stock opened at $44.55 on Wednesday. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.41 and a current ratio of 1.80. Core Laboratories has a 52 week low of $36.61 and a 52 week high of $108.14. The stock has a market capitalization of $1.96 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 4.80 and a beta of 1.97. The stock has a fifty day moving average of $44.38 and a 200-day moving average of $52.14.
CLB has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $52.00 price target on Core Laboratories and gave the stock a “hold” rating in a report on Wednesday, June 26th. Citigroup lowered their price target on Core Laboratories from $54.00 to $51.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Bank of America raised Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 price target for the company in a report on Wednesday, July 10th. Royal Bank of Canada set a $77.00 price target on Core Laboratories and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, ValuEngine raised Core Laboratories from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $73.17.
In other news, Director Gregory Barry Barnett acquired 1,000 shares of Core Laboratories stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the transaction, the director now directly owns 11,000 shares of the company’s stock, valued at approximately $440,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.
About Core Laboratories
Core Laboratories N.V. provides reservoir description and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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