Core Laboratories (NYSE:CLB) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.55 per share by the oil and gas company on Tuesday, November 19th. This represents a $2.20 annualized dividend and a yield of 5.18%. The ex-dividend date of this dividend is Thursday, October 17th.
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 decline. Analysts expect Core Laboratories to earn $2.20 per share next year, which means the company may not be able to cover its $2.20 annual dividend with an expected future payout ratio of 100.0%.
Shares of NYSE CLB opened at $42.44 on Thursday. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.80 and a quick ratio of 1.41. The company has a market cap of $1.93 billion, a P/E ratio of 18.61, a PEG ratio of 4.46 and a beta of 1.97. Core Laboratories has a 1 year low of $36.61 and a 1 year high of $118.34. The firm has a 50-day simple moving average of $43.65 and a two-hundred day simple moving average of $52.83.
CLB has been the subject of several research analyst reports. ValuEngine raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley cut their price objective on shares of Core Laboratories from $65.00 to $55.00 and set an “equal weight” rating on the stock in a report on Monday. Bank of America raised shares of Core Laboratories from a “neutral” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Wednesday, July 10th. Royal Bank of Canada set a $77.00 price objective on shares of Core Laboratories and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Citigroup cut their price objective on shares of Core Laboratories from $54.00 to $51.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Core Laboratories has a consensus rating of “Hold” and a consensus price target of $73.17.
In other news, Director Gregory Barry Barnett acquired 1,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the director now owns 11,000 shares in the company, valued at approximately $440,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.
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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