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

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Wednesday, July 24th, NASDAQ reports. Shareholders of record on Monday, August 5th will be given a dividend of 0.01 per share by the oil and gas company on Monday, August 26th. This represents a $0.04 dividend on an annualized basis and a yield of 0.16%. The ex-dividend date is Monday, August 5th.

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 3.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Core Laboratories to earn $1.05 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 3.8%.

Core Laboratories Trading Up 10.6 %

Shares of NYSE:CLB traded up $2.34 during mid-day trading on Thursday, reaching $24.36. 1,113,415 shares of the company’s stock were exchanged, compared to its average volume of 455,463. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.85 and a current ratio of 2.68. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $27.94. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.41 and a beta of 2.41. The business’s fifty day moving average price is $19.63 and its 200-day moving average price is $17.34.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.21 by $0.01. Core Laboratories had a return on equity of 15.71% and a net margin of 8.18%. The firm had revenue of $130.58 million for the quarter, compared to the consensus estimate of $132.85 million. During the same period in the previous year, the business earned $0.23 EPS. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, research analysts predict that Core Laboratories will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CLB has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Core Laboratories from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Friday, April 26th. Bank of America decreased their price objective on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating for the company in a research report on Monday, July 15th. StockNews.com lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, Piper Sandler decreased their price target on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $17.50.

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.