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

Core Laboratories Inc. (NYSE:CLB - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Monday, August 4th will be given a dividend of 0.01 per share by the oil and gas company on Monday, August 25th. This represents a $0.04 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Monday, August 4th.

Core Laboratories has a payout ratio of 4.7% 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 Trading Up 2.0%

Shares of CLB stock traded up $0.24 on Monday, hitting $11.97. The stock had a trading volume of 440,729 shares, compared to its average volume of 479,939. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.27 and a quick ratio of 1.70. The firm has a market capitalization of $561.15 million, a P/E ratio of 19.31, a P/E/G ratio of 3.61 and a beta of 1.41. Core Laboratories has a 1 year low of $10.14 and a 1 year high of $25.13. The company's 50 day moving average price is $11.84 and its 200-day moving average price is $13.79.

Core Laboratories (NYSE:CLB - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $130.16 million for the quarter, compared to the consensus estimate of $129.19 million. Core Laboratories had a return on equity of 14.15% and a net margin of 5.73%. The company's quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 EPS. Analysts anticipate that Core Laboratories will post 0.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CLB shares. Citigroup reduced their price target on Core Laboratories from $16.00 to $13.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Stifel Nicolaus reduced their price target on Core Laboratories from $13.00 to $12.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Finally, Wall Street Zen raised Core Laboratories from a "sell" rating to a "hold" rating in a research report on Saturday.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Core Laboratories stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Core Laboratories Inc. (NYSE:CLB - Free Report) by 4.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,893 shares of the oil and gas company's stock after acquiring an additional 1,170 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.06% of Core Laboratories worth $418,000 at the end of the most recent reporting period. 97.81% of the stock is currently owned by institutional investors and hedge funds.

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.