Core Laboratories Inc. (NYSE:CLB - Get Free Report) declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Monday, August 4th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, August 25th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Monday, August 4th.
Core Laboratories has a payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings. Research 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 Up 5.9%
Shares of CLB traded up $0.74 during trading hours on Thursday, reaching $13.36. The stock had a trading volume of 1,000,370 shares, compared to its average volume of 453,134. The company has a current ratio of 2.21, a quick ratio of 1.64 and a debt-to-equity ratio of 0.48. The firm has a 50-day simple moving average of $11.80 and a 200 day simple moving average of $13.99. Core Laboratories has a 12 month low of $10.14 and a 12 month high of $25.13. The company has a market capitalization of $626.54 million, a price-to-earnings ratio of 22.65, a P/E/G ratio of 3.62 and a beta of 1.41.
Core Laboratories (NYSE:CLB - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The oil and gas company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. Core Laboratories had a return on equity of 15.06% and a net margin of 5.41%. The business had revenue of $130.16 million for the quarter, compared to analysts' expectations of $129.19 million. During the same period last year, the business earned $0.22 EPS. The business's revenue was down .3% on a year-over-year basis. Equities research analysts predict that Core Laboratories will post 0.96 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research analysts have commented on the company. Wall Street Zen downgraded Core Laboratories from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Stifel Nicolaus cut their target price on Core Laboratories from $13.00 to $12.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Finally, Citigroup cut their target price on Core Laboratories from $16.00 to $13.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th.
Read Our Latest Analysis on CLB
Institutional Trading of Core Laboratories
A hedge fund recently raised its stake in Core Laboratories stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Core Laboratories Inc. (NYSE:CLB - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,893 shares of the oil and gas company's stock after buying an additional 1,170 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Core Laboratories worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 97.81% of the stock is currently owned by hedge funds and other institutional investors.
About Core Laboratories
(
Get Free Report)
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.
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