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

Core Laboratories Inc. (NYSE:CLB) declared a quarterly dividend on Wednesday, October 23rd, NASDAQ reports. Stockholders of record on Monday, November 4th will be paid 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 dividend yield of 0.21%. The ex-dividend date is Monday, November 4th.

Core Laboratories has decreased its dividend by an average of 47.7% per year over the last three years. Core Laboratories has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Performance

CLB traded up $1.85 during trading on Thursday, reaching $18.93. The company’s stock had a trading volume of 684,769 shares, compared to its average volume of 434,758. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.68 and a current ratio of 2.39. The company’s fifty day moving average price is $18.54 and its 200-day moving average price is $18.96. Core Laboratories has a 52-week low of $13.82 and a 52-week high of $25.13. The company has a market capitalization of $887.82 million, a price-to-earnings ratio of 21.03, a price-to-earnings-growth ratio of 1.08 and a beta of 2.36.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, October 23rd. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The firm 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%. Core Laboratories’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.22 earnings per share. On average, equities analysts forecast that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Analyst Ratings Changes

CLB has been the subject of a number of research analyst reports. Bank of America dropped their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a report on Monday, July 15th. Piper Sandler dropped their price objective on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, July 15th. StockNews.com downgraded Core Laboratories from a “hold” rating to a “sell” rating in a research report on Tuesday, September 17th. Finally, Stifel Nicolaus raised their price target on Core Laboratories from $18.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat, Core Laboratories has a consensus rating of “Hold” and an average target price of $18.00.

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.