Core Laboratories NV Announces Quarterly Dividend of $0.55 (CLB)
Core Laboratories NV (NYSE:CLB) announced a quarterly dividend on Tuesday, October 11th. Stockholders of record on Friday, October 21st will be paid a dividend of 0.55 per share on Tuesday, November 22nd. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Wednesday, October 19th.
Shares of Core Laboratories NV (NYSE:CLB) opened at 112.65 on Friday. The stock has a market capitalization of $4.97 billion, a P/E ratio of 59.76 and a beta of 1.45. The stock’s 50 day moving average price is $110.75 and its 200 day moving average price is $117.48. Core Laboratories NV has a one year low of $84.50 and a one year high of $135.49.
Core Laboratories NV (NYSE:CLB) last issued its earnings results on Wednesday, July 20th. The company reported $0.35 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.35. Core Laboratories NV had a return on equity of 344.55% and a net margin of 11.81%. The business earned $148.10 million during the quarter, compared to analysts’ expectations of $146.37 million. During the same period in the prior year, the firm posted $0.81 EPS. Core Laboratories NV’s quarterly revenue was down 27.4% compared to the same quarter last year. On average, analysts forecast that Core Laboratories NV will post $1.54 EPS for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Lord Abbett & CO. LLC bought a new position in Core Laboratories NV during the second quarter valued at about $15,470,000. Marshall Wace LLP raised its position in Core Laboratories NV by 100.2% in the second quarter. Marshall Wace LLP now owns 207,377 shares of the company’s stock valued at $25,692,000 after buying an additional 103,785 shares in the last quarter. UBS Oconnor LLC bought a new position in Core Laboratories NV during the second quarter valued at about $10,388,000. BlackRock Institutional Trust Company N.A. raised its position in Core Laboratories NV by 10.2% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 798,509 shares of the company’s stock valued at $98,927,000 after buying an additional 74,219 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Core Laboratories NV by 61.0% in the second quarter. Parametric Portfolio Associates LLC now owns 141,293 shares of the company’s stock valued at $17,505,000 after buying an additional 53,553 shares in the last quarter.
A number of brokerages have recently issued reports on CLB. JPMorgan Chase & Co. reissued a “buy” rating on shares of Core Laboratories NV in a report on Thursday, June 30th. DA Davidson began coverage on Core Laboratories NV in a report on Wednesday, October 5th. They issued a “buy” rating and a $136.00 target price for the company. Zacks Investment Research cut Core Laboratories NV from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Citigroup Inc. dropped their target price on Core Laboratories NV from $123.00 to $118.00 and set a “neutral” rating for the company in a report on Monday, July 25th. Finally, Loop Capital initiated coverage on Core Laboratories NV in a report on Friday, September 30th. They issued a “hold” rating and a $120.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $121.61.
About Core Laboratories NV
Core Laboratories N.V. is a provider of reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company’s services and products are directed toward enabling the Company’s clients to improve reservoir performance and increase oil and gas recovery from their producing fields.
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