Core Laboratories (NYSE:CLB) announced a quarterly dividend on Tuesday, January 16th, NASDAQ reports. Investors of record on Friday, January 26th will be paid a dividend of 0.55 per share by the oil and gas company on Friday, February 16th. This represents a $2.20 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date is Thursday, January 25th.
Core Laboratories has increased its dividend by an average of 3.2% per year over the last three years. Core Laboratories has a dividend payout ratio of 110.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Core Laboratories to earn $2.70 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 81.5%.
Core Laboratories (NYSE CLB) opened at $116.00 on Friday. The firm has a market cap of $5,120.00, a price-to-earnings ratio of 67.05 and a beta of 1.56. Core Laboratories has a 1-year low of $86.55 and a 1-year high of $124.99. The company has a quick ratio of 1.81, a current ratio of 2.18 and a debt-to-equity ratio of 1.53.
A number of equities analysts have weighed in on CLB shares. Deutsche Bank started coverage on shares of Core Laboratories in a report on Tuesday, October 10th. They issued a “buy” rating and a $109.00 price target on the stock. Zacks Investment Research lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Scotiabank set a $136.00 price target on shares of Core Laboratories and gave the company a “hold” rating in a report on Wednesday, October 25th. ABN Amro upgraded shares of Core Laboratories from a “hold” rating to a “buy” rating in a report on Wednesday, October 25th. Finally, Royal Bank of Canada set a $110.00 price target on shares of Core Laboratories and gave the company a “buy” rating in a report on Thursday, December 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $110.20.
An institutional investor recently raised its position in Core Laboratories stock. The Manufacturers Life Insurance Company increased its position in shares of Core Laboratories (NYSE:CLB) by 63.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 were worth $114,000 at the end of the most recent reporting period.
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Core Laboratories 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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