Core Laboratories (NYSE:CLB) declared a quarterly dividend on Friday, July 17th, Fidelity reports. Stockholders of record on Monday, July 27th will be paid a dividend of 0.01 per share by the oil and gas company on Monday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend is Friday, July 24th.
Core Laboratories has a payout ratio of 5.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Core Laboratories to earn $0.66 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 6.1%.
Shares of NYSE CLB opened at $22.26 on Thursday. The company has a market capitalization of $992.27 million, a P/E ratio of 13.53, a price-to-earnings-growth ratio of 31.60 and a beta of 3.06. Core Laboratories has a 52-week low of $6.68 and a 52-week high of $55.51. The company has a debt-to-equity ratio of 5.17, a quick ratio of 1.54 and a current ratio of 2.03. The company’s 50 day moving average price is $21.67 and its 200-day moving average price is $22.95.
Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, July 22nd. The oil and gas company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.04. Core Laboratories had a negative net margin of 7.21% and a positive return on equity of 46.28%. Analysts forecast that Core Laboratories will post 0.69 earnings per share for the current year.
A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated a “buy” rating on shares of Core Laboratories in a research report on Monday, April 27th. Piper Sandler dropped their target price on shares of Core Laboratories from $16.50 to $7.50 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Scotiabank downgraded shares of Core Laboratories from a “sector outperform” rating to a “sector perform” rating and set a $19.00 target price on the stock. in a research report on Thursday, July 16th. Morgan Stanley boosted their target price on shares of Core Laboratories from $18.00 to $24.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Finally, TheStreet downgraded shares of Core Laboratories from a “c” rating to a “d” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $25.41.
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. The company operates in two segments, Reservoir Description and Production Enhancement segments. The Reservoir Description segment includes 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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