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

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

Core Laboratories has raised its dividend payment by an average of 10.1% per year over the last three years. Core Laboratories has a payout ratio of 3.5% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 4.3 %

CLB traded down $0.79 during mid-day trading on Thursday, hitting $17.75. 706,715 shares of the stock were exchanged, compared to its average volume of 295,532. The firm’s fifty day moving average is $19.00 and its two-hundred day moving average is $19.49. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13. The company has a current ratio of 2.48, a quick ratio of 1.79 and a debt-to-equity ratio of 0.55. The company has a market cap of $833.36 million, a PE ratio of 27.31, a PEG ratio of 1.14 and a beta of 2.39.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, January 29th. The oil and gas company reported $0.23 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.23. Core Laboratories had a return on equity of 15.84% and a net margin of 5.83%. Equities analysts forecast that Core Laboratories will post 0.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CLB. Citigroup reduced their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. StockNews.com raised Core Laboratories from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.00.

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.