Core Laboratories (NYSE:CLB) announced a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Stockholders of record on Friday, October 19th will be given a dividend of 0.55 per share by the oil and gas company on Tuesday, November 20th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, October 18th.
Core Laboratories has increased its dividend payment by an average of 3.2% annually over the last three years. Core Laboratories has a dividend payout ratio of 90.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Core Laboratories to earn $3.05 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 72.1%.
CLB stock opened at $107.25 on Friday. Core Laboratories has a 1 year low of $87.66 and a 1 year high of $130.34. The stock has a market capitalization of $5.12 billion, a P/E ratio of 53.63, a P/E/G ratio of 3.96 and a beta of 1.46. The company has a quick ratio of 1.85, a current ratio of 2.24 and a debt-to-equity ratio of 1.53.
Core Laboratories (NYSE:CLB) last released its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.59. Core Laboratories had a net margin of 13.32% and a return on equity of 64.13%. The company had revenue of $175.48 million during the quarter, compared to the consensus estimate of $174.47 million. During the same period in the prior year, the firm earned $0.51 earnings per share. Core Laboratories’s revenue was up 10.9% on a year-over-year basis. On average, equities analysts anticipate that Core Laboratories will post 2.44 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on CLB shares. Piper Jaffray Companies set a $95.00 price target on shares of Core Laboratories and gave the stock a “hold” rating in a research note on Friday, October 5th. Morgan Stanley started coverage on shares of Core Laboratories in a research note on Tuesday, September 18th. They issued an “equal weight” rating and a $125.00 price target for the company. Citigroup downgraded shares of Core Laboratories from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd. JPMorgan Chase & Co. increased their price target on shares of Core Laboratories from $118.00 to $121.00 and gave the stock an “overweight” rating in a research note on Monday, September 17th. Finally, Stifel Nicolaus started coverage on shares of Core Laboratories in a research note on Monday, September 10th. They issued a “hold” rating and a $117.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Core Laboratories presently has a consensus rating of “Hold” and a consensus price target of $115.15.
Core Laboratories Company Profile
Core Laboratories N.V. provides reservoir description, and production enhancement services and products to the oil and gas industry in the United States, Canada, and internationally. It operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment comprises the characterization of petroleum reservoir rock, fluid, and gas samples to enhance production and improve recovery of oil and gas from its clients' reservoirs.
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