Core Laboratories N.V. Plans Quarterly Dividend of $0.55 (CLB)
Core Laboratories N.V. (NYSE:CLB) declared a quarterly dividend on Tuesday, October 10th, RTT News reports. Investors of record on Friday, October 20th will be given a dividend of 0.55 per share by the oil and gas company on Tuesday, November 21st. This represents a $2.20 annualized dividend and a yield of 2.29%.
Core Laboratories N.V. has raised its dividend payment by an average of 19.8% per year over the last three years. Core Laboratories N.V. has a dividend payout ratio of 110.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Core Laboratories N.V. to earn $2.75 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 80.0%.
Core Laboratories N.V. (CLB) traded up 0.24% during trading on Tuesday, reaching $96.05. The company had a trading volume of 340,791 shares. The firm has a market capitalization of $4.24 billion, a P/E ratio of 58.93 and a beta of 1.63. Core Laboratories N.V. has a 52-week low of $86.55 and a 52-week high of $125.83. The company has a 50-day moving average of $93.75 and a 200-day moving average of $102.56.
Core Laboratories N.V. (NYSE:CLB) last announced its earnings results on Monday, July 24th. The oil and gas company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Core Laboratories N.V. had a return on equity of 49.29% and a net margin of 11.80%. The firm had revenue of $163.90 million for the quarter, compared to analysts’ expectations of $168.23 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Analysts expect that Core Laboratories N.V. will post $1.98 EPS for the current fiscal year.
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An institutional investor recently raised its position in Core Laboratories N.V. stock. The Manufacturers Life Insurance Company raised its stake in Core Laboratories N.V. (NYSE:CLB) by 63.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,128 shares of the oil and gas company’s stock after buying an additional 439 shares during the period. The Manufacturers Life Insurance Company ‘s holdings in Core Laboratories N.V. were worth $114,000 as of its most recent filing with the SEC.
Several brokerages recently commented on CLB. Deutsche Bank AG began coverage on Core Laboratories N.V. in a report on Tuesday. They set a “buy” rating and a $109.00 target price on the stock. Cowen and Company set a $100.00 target price on Core Laboratories N.V. and gave the stock a “hold” rating in a report on Friday. Zacks Investment Research cut Core Laboratories N.V. from a “hold” rating to a “sell” rating in a report on Tuesday, September 26th. Royal Bank Of Canada dropped their target price on Core Laboratories N.V. from $115.00 to $112.00 and set an “outperform” rating on the stock in a report on Thursday, September 7th. Finally, ValuEngine cut Core Laboratories N.V. from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Core Laboratories N.V. currently has an average rating of “Hold” and an average target price of $110.91.
Core Laboratories N.V. Company Profile
Core Laboratories N.V. provides reservoir description, production enhancement and reservoir management services to the oil and gas industry. The Company operates through three segments: Reservoir Description, Production Enhancement and Reservoir Management. The Reservoir Description segment encompasses the characterization of petroleum reservoir rock, fluid and gas samples.
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