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

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

Core Laboratories has raised 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. Equities 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 Performance

NYSE CLB opened at $16.61 on Friday. The business has a 50 day moving average price of $18.50 and a 200 day moving average price of $19.21. The company has a market capitalization of $779.89 million, a P/E ratio of 25.17, a PEG ratio of 0.98 and a beta of 2.38. Core Laboratories has a 1-year low of $13.82 and a 1-year high of $25.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.32 and a quick ratio of 1.71.

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

Analyst Ratings Changes

CLB has been the topic of several recent research reports. Citigroup reduced their price target on shares of 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 raised Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. According to data from MarketBeat, Core Laboratories presently has an average 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.