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

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Wednesday, January 29th,Wall Street Journal reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date is Monday, February 10th.

Core Laboratories has raised its dividend by an average of 10.1% annually over the last three years. Core Laboratories has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of Core Laboratories stock traded down $0.79 on Thursday, reaching $17.75. The company’s stock had a trading volume of 706,715 shares, compared to its average volume of 295,532. The company has a market capitalization of $833.36 million, a P/E ratio of 27.31, a PEG ratio of 1.14 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 stock has a 50-day moving average price of $19.00 and a 200-day moving average price of $19.49. 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 issued its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. Analysts expect that Core Laboratories will post 0.8 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on CLB shares. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Citigroup dropped 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 analysts have rated the stock with a sell rating and three have given a hold rating to the company. Based on data from MarketBeat, Core Laboratories currently has a consensus 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.