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

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be given a dividend of 0.01 per share by the oil and gas company on Monday, March 3rd. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Monday, February 10th.

Core Laboratories has raised its dividend payment by an average of 10.1% annually over the last three years. Core Laboratories has a payout ratio of 3.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Core Laboratories to earn $1.11 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 3.6%.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $17.75 on Friday. The firm has a market cap of $833.36 million, a PE ratio of 26.89, a price-to-earnings-growth ratio of 1.09 and a beta of 2.39. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $25.13. The business’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $19.48. The company has a quick ratio of 1.79, a current ratio of 2.48 and a debt-to-equity ratio of 0.55.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.23. Core Laboratories had a net margin of 5.99% and a return on equity of 16.43%. Equities analysts forecast that Core Laboratories will post 0.96 earnings per share for the current year.

Analyst Ratings Changes

CLB has been the topic of a number of research analyst reports. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Citigroup lowered their target price on Core Laboratories from $15.00 to $14.00 and set a “sell” rating for the company in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, Core Laboratories presently has an average rating of “Hold” and an average price target of $17.00.

Core Laboratories Company Profile

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.