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

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, March 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Monday, February 10th.

Core Laboratories has increased its dividend by an average of 10.1% per year over the last three years. Core Laboratories has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Core Laboratories to earn $0.97 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 4.1%.

Core Laboratories Stock Down 4.3 %

Shares of Core Laboratories stock traded down $0.79 during trading on Thursday, hitting $17.75. 552,751 shares of the stock were exchanged, compared to its average volume of 284,036. The stock has a market cap of $833.36 million, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.14 and a beta of 2.39. The firm’s 50-day moving average price is $19.00 and its 200 day moving average price is $19.49. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. Core Laboratories has a 12-month low of $13.82 and a 12-month high of $25.13.

Core Laboratories (NYSE:CLB) last issued its earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. As a group, analysts forecast that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup reduced 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. StockNews.com upgraded shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to MarketBeat, Core Laboratories currently has a consensus rating of “Hold” and a consensus target price 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.