Core Laboratories (CLB) Hits New 12-Month High and Low After Dividend Announcement

Core Laboratories (NYSE:CLB) reached a new 52-week high and low during trading on Wednesday following a dividend announcement from the company. The stock traded as low as $121.75 and last traded at $121.55, with a volume of 207432 shares trading hands. The stock had previously closed at $117.36.

The newly announced dividend which will be paid on Tuesday, May 22nd. Shareholders of record on Friday, April 27th will be given a $0.55 dividend. The ex-dividend date is Thursday, April 26th. This represents a $2.20 dividend on an annualized basis and a yield of 1.81%. Core Laboratories’s dividend payout ratio is currently 110.00%.

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A number of analysts have weighed in on CLB shares. Zacks Investment Research lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Royal Bank of Canada set a $110.00 target price on shares of Core Laboratories and gave the company a “buy” rating in a research report on Thursday, December 21st. ValuEngine lowered shares of Core Laboratories from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Cowen set a $98.00 target price on shares of Core Laboratories and gave the company a “hold” rating in a research report on Friday, April 13th. Finally, Credit Suisse Group started coverage on shares of Core Laboratories in a research report on Thursday, March 15th. They issued an “outperform” rating and a $107.94 target price on the stock. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $112.99.

The firm has a market capitalization of $5,385.40, a P/E ratio of 60.97 and a beta of 1.41. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.66 and a current ratio of 1.98.

Core Laboratories (NYSE:CLB) last issued its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The company had revenue of $172.00 million for the quarter, compared to analyst estimates of $171.92 million. Core Laboratories had a net margin of 12.60% and a return on equity of 58.25%. Core Laboratories’s revenue was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. equities research analysts expect that Core Laboratories will post 2.7 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of the company. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Core Laboratories by 60.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,096 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 414 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Core Laboratories by 63.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,128 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 439 shares during the period. Balentine LLC lifted its holdings in shares of Core Laboratories by 9.1% during the fourth quarter. Balentine LLC now owns 5,785 shares of the oil and gas company’s stock worth $634,000 after purchasing an additional 481 shares during the period. Suntrust Banks Inc. lifted its holdings in shares of Core Laboratories by 19.8% during the fourth quarter. Suntrust Banks Inc. now owns 2,942 shares of the oil and gas company’s stock worth $320,000 after purchasing an additional 486 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Core Laboratories by 13.7% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,150 shares of the oil and gas company’s stock worth $456,000 after purchasing an additional 499 shares during the period.

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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. 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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