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

Core Laboratories Inc. (NYSE:CLB) declared 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 by an average of 47.7% per year over the last three years. Core Laboratories has a dividend payout ratio of 3.4% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Performance

Shares of CLB traded up $2.34 during mid-day trading on Thursday, reaching $24.36. The company’s stock had a trading volume of 1,113,415 shares, compared to its average volume of 455,463. The business has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $17.34. The stock has a market cap of $1.14 billion, a P/E ratio of 27.34, a PEG ratio of 1.41 and a beta of 2.41. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $27.94. The company has a current ratio of 2.68, a quick ratio of 1.85 and a debt-to-equity ratio of 0.68.

Core Laboratories (NYSE:CLB) last released its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating 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 company had revenue of $130.58 million during the quarter, compared to the consensus estimate of $132.85 million. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Core Laboratories will post 0.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CLB shares. Piper Sandler dropped their target price on Core Laboratories from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, July 15th. Bank of America cut their target price on shares of Core Laboratories from $16.00 to $15.00 and set an “underperform” rating on the stock in a research note 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, Stifel Nicolaus upped their target price on Core Laboratories from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price 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.