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

Key Points

• Core Laboratories declared a quarterly dividend of $0.01 per share, payable November 30 to shareholders of record on November 9. The annualized dividend is $0.04, representing a 0.4% yield.
• The dividend appears well covered, with a current payout ratio of 4.7%; analysts expect next year’s earnings to support an estimated 5.1% payout ratio.
• Core Laboratories reported quarterly EPS of $0.16, matching estimates, while revenue of $132.08 million slightly exceeded expectations but declined 1.8% year over year. Shares opened at $10.52, near the lower end of their 52-week range.

Core Laboratories Inc. (NYSE:CLB - Get Free Report) announced a quarterly dividend on Wednesday, October 28th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.01 per share by the oil and gas company on Monday, November 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, November 9th.

Core Laboratories has decreased its dividend payment by an average of 0.3% per year over the last three years. Core Laboratories has a payout ratio of 4.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Core Laboratories to earn $0.79 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 5.1%.

Core Laboratories Stock Performance

Shares of Core Laboratories stock opened at $10.52 on Thursday. The company has a current ratio of 2.12, a quick ratio of 1.55 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average price of $11.07 and a two-hundred day moving average price of $14.00. Core Laboratories has a 1-year low of $9.13 and a 1-year high of $20.36. The company has a market cap of $482.57 million, a P/E ratio of 18.78, a PEG ratio of 1.98 and a beta of 1.14.

Core Laboratories (NYSE:CLB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The oil and gas company reported $0.16 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.16. The company had revenue of $132.08 million for the quarter, compared to the consensus estimate of $131.87 million. Core Laboratories had a return on equity of 10.03% and a net margin of 5.10%. The firm's revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.22 EPS. As a group, analysts anticipate that Core Laboratories will post 0.56 EPS for the current year.

Insider Activity

In other news, CEO Lawrence Bruno bought 5,000 shares of the business's stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $10.78 per share, for a total transaction of $53,900.00. Following the acquisition, the chief executive officer directly owned 262,438 shares in the company, valued at approximately $2,829,081.64. This trade represents a 1.94% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Core Laboratories

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in Core Laboratories during the first quarter worth $31,000. State of Wyoming increased its stake in Core Laboratories by 267.7% in the 1st quarter. State of Wyoming now owns 4,626 shares of the oil and gas company's stock valued at $78,000 after buying an additional 3,368 shares during the last quarter. Corient Private Wealth LP purchased a new stake in Core Laboratories in the 2nd quarter valued at about $141,000. The Manufacturers Life Insurance Company purchased a new stake in Core Laboratories in the 2nd quarter valued at about $156,000. Finally, Fifth Third Bancorp lifted its position in shares of Core Laboratories by 2,397.6% during the 1st quarter. Fifth Third Bancorp now owns 11,414 shares of the oil and gas company's stock worth $192,000 after buying an additional 10,957 shares in the last quarter. Institutional investors own 97.81% of the company's stock.

Core Laboratories Company Profile

Core Laboratories N.V. NYSE: CLB is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.