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

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Monday, May 6th will be paid 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 dividend yield of 0.23%. The ex-dividend date is Friday, May 3rd.

Core Laboratories has decreased its dividend payment by an average of 43.7% per year over the last three years. Core Laboratories has a payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. 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 Stock Up 2.3 %

NYSE:CLB traded up $0.40 during mid-day trading on Friday, hitting $17.47. The stock had a trading volume of 26,761 shares, compared to its average volume of 462,193. The stock has a 50-day simple moving average of $16.29 and a two-hundred day simple moving average of $17.66. The company has a market capitalization of $818.64 million, a PE ratio of 19.40, a PEG ratio of 0.94 and a beta of 2.40. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $27.94. The company has a current ratio of 2.53, a quick ratio of 1.72 and a debt-to-equity ratio of 0.71.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.02. Core Laboratories had a net margin of 8.18% and a return on equity of 15.90%. The business had revenue of $129.64 million for the quarter, compared to analyst estimates of $124.47 million. On average, equities research analysts anticipate that Core Laboratories will post 0.8 EPS for the current year.

Analysts Set New Price Targets

CLB has been the subject of a number of recent analyst reports. Bank of America reduced their target price on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a report on Monday, April 15th. Stifel Nicolaus cut their price target on Core Laboratories from $21.00 to $17.00 and set a “hold” rating for the company in a research note on Monday, February 5th. Finally, StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, Core Laboratories presently has a consensus rating of “Hold” and an average target price of $18.50.

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.