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

by · The Markets Daily

Core Laboratories Inc. (NYSE:CLB – Get Free Report) announced a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Shareholders of record on Monday, November 4th will be given a dividend of 0.01 per share by the oil and gas company on Monday, November 25th. This represents a $0.04 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date is Monday, November 4th.

Core Laboratories has decreased its dividend payment by an average of 47.7% annually over the last three years. Core Laboratories has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Core Laboratories to earn $1.20 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 3.3%.

Core Laboratories Stock Up 10.8 %

CLB stock traded up $1.85 during trading hours on Thursday, reaching $18.93. 684,769 shares of the stock were exchanged, compared to its average volume of 434,758. Core Laboratories has a 12 month low of $13.82 and a 12 month high of $25.13. The company has a market cap of $887.82 million, a price-to-earnings ratio of 21.03, a PEG ratio of 1.08 and a beta of 2.36. The firm’s 50-day moving average is $18.54 and its 200-day moving average is $18.96. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.39 and a quick ratio of 1.68.

Core Laboratories (NYSE:CLB – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.04. The business had revenue of $134.40 million during the quarter, compared to analysts’ expectations of $134.16 million. Core Laboratories had a return on equity of 15.20% and a net margin of 5.44%. The business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business posted $0.22 EPS. On average, equities research analysts expect that Core Laboratories will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CLB has been the subject of several research reports. Stifel Nicolaus increased their target price on Core Laboratories from $18.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Bank of America reduced their price target on Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a report on Monday, July 15th. Piper Sandler reduced their target price on shares of Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. Finally, StockNews.com lowered Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Core Laboratories has an average rating of “Hold” and an average price target of $18.00.

Read Our Latest Research Report on CLB

Core Laboratories Company Profile

(Get Free Report)

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.

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