Core Laboratories Inc. (CLB) to Issue Quarterly Dividend of $0.01 on March 3rd

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 0.24%. The ex-dividend date is Monday, February 10th.

Core Laboratories has increased its dividend by an average of 10.1% per year over the last three years. Core Laboratories has a dividend payout ratio of 3.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Core Laboratories to earn $1.11 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 3.6%.

Core Laboratories Stock Down 0.5 %

Core Laboratories stock opened at $16.61 on Friday. The company has a market capitalization of $779.89 million, a PE ratio of 25.17, a price-to-earnings-growth ratio of 0.98 and a beta of 2.38. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.71 and a current ratio of 2.32. Core Laboratories has a fifty-two week low of $13.82 and a fifty-two week high of $25.13. The firm has a 50 day moving average price of $18.50 and a 200 day moving average price of $19.21.

Core Laboratories (NYSE:CLB) last announced its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Core Laboratories had a return on equity of 16.24% and a net margin of 5.99%. Research analysts expect that Core Laboratories will post 0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

CLB has been the topic of a number of research reports. Citigroup lowered their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, Core Laboratories presently has an average rating of “Hold” and an average target price 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.