Core Laboratories (NYSE:CLB) announced a dividend on Friday, July 12th, Fidelity reports. Investors of record on Monday, July 22nd will be given a dividend of 0.55 per share by the oil and gas company on Monday, August 12th. The ex-dividend date is Friday, July 19th.
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 $2.43 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 90.5%.
CLB stock opened at $54.37 on Friday. The stock’s 50 day moving average price is $51.01. The company has a debt-to-equity ratio of 1.92, a current ratio of 1.84 and a quick ratio of 1.45. Core Laboratories has a fifty-two week low of $46.32 and a fifty-two week high of $122.11. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 23.85, a price-to-earnings-growth ratio of 2.93 and a beta of 1.93.
A number of analysts recently weighed in on CLB shares. Bank of America set a $25.00 target price on shares of Levi Strauss & Co. and gave the stock a “hold” rating in a research note on Wednesday. Royal Bank of Canada restated an “underperform” rating and set a GBX 215 ($2.81) target price on shares of in a research note on Wednesday, June 26th. Zacks Investment Research lowered shares of Heritage Insurance from a “hold” rating to a “strong sell” rating in a research note on Friday, April 26th. Stifel Nicolaus restated a “buy” rating and set a $170.00 target price on shares of Spotify in a research note on Friday, April 26th. Finally, Piper Jaffray Companies set a $52.00 target price on shares of Core Laboratories and gave the stock a “hold” rating in a research note on Wednesday, June 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $75.67.
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. 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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