Core Laboratories Inc. (CLB) To Go Ex-Dividend on May 3rd

Core Laboratories Inc. (NYSE:CLB) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors 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 payout ratio of 3.3% meaning its dividend is sufficiently covered by earnings. 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 1.8 %

Shares of NYSE CLB traded up $0.31 during midday trading on Friday, hitting $17.38. The company’s stock had a trading volume of 59,885 shares, compared to its average volume of 462,623. The business’s fifty day simple moving average is $16.29 and its two-hundred day simple moving average is $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. Core Laboratories has a 1 year low of $13.82 and a 1 year high of $27.94. The firm has a market capitalization of $814.43 million, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.94 and a beta of 2.40.

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

Wall Street Analysts Forecast Growth

CLB has been the topic of several research analyst reports. Bank of America decreased their target price on shares of Core Laboratories from $17.00 to $16.00 and set an “underperform” rating on the stock in a research report on Monday, April 15th. StockNews.com raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Saturday, January 20th. Finally, Stifel Nicolaus dropped their target price on shares of Core Laboratories from $21.00 to $17.00 and set a “hold” rating for the company in a research report on Monday, February 5th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to MarketBeat.com, the company 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.