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

Core Laboratories Inc. (NYSE:CLB) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Monday, May 6th will be given 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 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 dividend payout ratio of 3.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 3.3 %

Shares of Core Laboratories stock opened at $17.07 on Friday. The business has a 50-day moving average of $16.29 and a 200-day moving average of $17.66. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.53 and a quick ratio of 1.72. The company has a market capitalization of $799.90 million, a PE ratio of 19.40, a P/E/G ratio of 0.94 and a beta of 2.40. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94.

Core Laboratories (NYSE:CLB) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.02. The company had revenue of $129.64 million during the quarter, compared to the consensus estimate of $124.47 million. Core Laboratories had a return on equity of 15.90% and a net margin of 8.18%. As a group, equities analysts forecast that Core Laboratories will post 0.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on CLB. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Bank of America decreased their price target on Core Laboratories from $17.00 to $16.00 and set an “underperform” rating for the company in a research note on Monday, April 15th. Finally, Stifel Nicolaus decreased 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. Two investment analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Based on data from MarketBeat, Core Laboratories presently has a consensus rating of “Hold” and an average price target of $18.50.

About Core Laboratories

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.