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

Core Laboratories Inc. (NYSE:CLB - Get Free Report) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date of this dividend 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 dividend 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 Performance

Shares of Core Laboratories stock traded down $0.13 on Friday, reaching $16.94. 522,902 shares of the company traded hands, compared to its average volume of 468,506. Core Laboratories has a 52 week low of $13.82 and a 52 week high of $27.94. The company has a 50 day moving average of $16.34 and a 200 day moving average of $17.62. The firm has a market capitalization of $793.81 million, a PE ratio of 19.25, a PEG ratio of 0.94 and a beta of 2.40. 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 (NYSE:CLB - Get Free Report) last released its quarterly earnings data on Wednesday, April 24th. The oil and gas company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.11 by $0.02. The company had revenue of $129.64 million during the quarter, compared to the consensus estimate of $124.47 million. Core Laboratories had a net margin of 8.18% and a return on equity of 15.90%. Equities analysts forecast that Core Laboratories will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

CLB has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on shares of Core Laboratories from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Friday. Bank of America cut their price objective on shares of Core Laboratories from $17.00 to $16.00 and set an "underperform" rating for the company in a report on Monday, April 15th. Finally, StockNews.com raised shares of Core Laboratories from a "sell" rating to a "hold" rating in a report on Saturday, January 20th. Two research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $18.75.

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.