Core Laboratories (NYSE:CLB) declared a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Shareholders 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 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend 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 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%.
CLB stock opened at $107.25 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.85 and a debt-to-equity ratio of 1.53. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 53.63, a PEG ratio of 3.96 and a beta of 1.46. Core Laboratories has a fifty-two week low of $87.66 and a fifty-two week high of $130.34.
CLB has been the topic of a number of recent analyst reports. ValuEngine upgraded Core Laboratories from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Edward Jones initiated coverage on Core Laboratories in a research report on Tuesday, September 4th. They issued a “buy” rating on the stock. Morgan Stanley initiated coverage on Core Laboratories in a research report on Tuesday, September 18th. They issued an “equal weight” rating and a $125.00 price target on the stock. Citigroup set a $116.00 price target on Core Laboratories and gave the stock a “hold” rating in a research report on Friday, September 14th. Finally, Stifel Nicolaus initiated coverage on Core Laboratories in a research report on Monday, September 10th. They issued a “hold” rating and a $117.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price 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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