Core Laboratories (NYSE:CLB) declared a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Shareholders of record on Friday, October 19th will be paid 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 raised its dividend payment by an average of 3.2% annually over the last three years. Core Laboratories has a payout ratio of 90.2% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. 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%.
Shares of NYSE CLB opened at $107.25 on Friday. Core Laboratories has a fifty-two week low of $87.66 and a fifty-two week high of $130.34. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 53.63, a price-to-earnings-growth 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 announced its earnings results on Wednesday, July 25th. The oil and gas company reported $0.59 earnings per share for the quarter, meeting 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 business had revenue of $175.48 million during the quarter, compared to the consensus estimate of $174.47 million. During the same quarter last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, sell-side analysts anticipate that Core Laboratories will post 2.44 EPS for the current year.
CLB has been the subject of a number of analyst reports. ABN Amro downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Citigroup downgraded shares of Core Laboratories from a “neutral” rating to a “sell” rating in a research note on Monday, July 2nd. Zacks Investment Research downgraded shares of Core Laboratories from a “hold” rating to a “sell” rating in a research note on Wednesday, July 4th. Royal Bank of Canada decreased their target price on shares of Core Laboratories to $130.00 and set an “outperform” rating for the company in a research note on Thursday, July 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Core Laboratories from $121.00 to $118.00 and set an “overweight” rating for the company in a research note on Friday, July 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $115.15.
About Core Laboratories
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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