Core Laboratories Inc. (NYSE:CLB – Get Free Report) announced a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, March 3rd. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Monday, February 10th.
Core Laboratories has raised its dividend payment by an average of 10.1% annually over the last three years. Core Laboratories has a payout ratio of 3.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Core Laboratories to earn $0.97 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 4.1%.
Core Laboratories Trading Down 4.3 %
CLB stock traded down $0.79 on Thursday, hitting $17.75. 552,751 shares of the company were exchanged, compared to its average volume of 284,036. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.48 and a quick ratio of 1.79. The stock has a market capitalization of $833.36 million, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 1.14 and a beta of 2.39. Core Laboratories has a twelve month low of $13.82 and a twelve month high of $25.13. The business’s fifty day moving average is $19.00 and its two-hundred day moving average is $19.49.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Citigroup reduced their price target on Core Laboratories from $15.00 to $14.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded Core Laboratories from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.00.
Get Our Latest Stock Analysis on Core Laboratories
Core Laboratories Company Profile
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.
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