Core Laboratories Inc. (CLB) To Go Ex-Dividend on November 9th

Core Laboratories Inc. (NYSE:CLB) declared a quarterly dividend on Wednesday, October 28th. Investors of record on Monday, November 9th will be given a dividend of $0.01 per share by the oil and gas company on Monday, November 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, November 9th.

Core Laboratories has decreased its dividend by an average of 0.3% per year over the last three years. Core Laboratories has a dividend payout ratio of 4.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Core Laboratories to earn $0.79 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 5.1%.

Core Laboratories Stock Down 1.2%

CLB stock opened at $8.83 on Friday. The stock has a market capitalization of $404.45 million, a P/E ratio of 23.23, a P/E/G ratio of 2.03 and a beta of 1.18. The business has a 50-day moving average of $10.72 and a 200-day moving average of $13.68. Core Laboratories has a fifty-two week low of $8.75 and a fifty-two week high of $20.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.19 and a quick ratio of 1.60.

Core Laboratories (NYSE:CLB) last posted its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $0.16 earnings per share for the quarter, hitting the consensus estimate of $0.16. Core Laboratories had a net margin of 3.42% and a return on equity of 8.94%. The business had revenue of $132.08 million during the quarter, compared to the consensus estimate of $131.87 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Core Laboratories will post 0.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CLB. Weiss Ratings raised shares of Core Laboratories from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 29th. Wall Street Zen raised shares of Core Laboratories from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Johnson Rice upgraded Core Laboratories from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Thursday, August 13th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.00.

About Core Laboratories

Core Laboratories N.V. (NYSE: CLB) is a global provider of proprietary reservoir description and production enhancement services and products for the energy industry. The company helps oil and natural gas producers evaluate reservoirs, improve well performance, and optimize the recovery of hydrocarbons.

Its reservoir description activities include geological and geochemical analysis, petrophysical services, core and fluid analysis, and laboratory testing used to characterize subsurface formations.