Core Laboratories said on July 26, 2023 that its board of directors declared a regular quarterly dividend of $0.01 per share ($0.04 annualized). Previously, the company paid $0.01 per share.
Shareholders of record as of August 7, 2023 will receive the payment on August 28, 2023.
At the current share price of $25.51 / share, the stock's dividend yield is 0.16%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.30%, the lowest has been 0.08%, and the highest has been 7.40%. The standard deviation of yields is 1.75 (n=236).
The current dividend yield is 0.66 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.05. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 312 funds or institutions reporting positions in Core Laboratories. This is a decrease of 8 owner(s) or 2.50% in the last quarter. Average portfolio weight of all funds dedicated to CLB is 0.26%, a decrease of 20.61%. Total shares owned by institutions decreased in the last three months by 8.17% to 53,425K shares. 
The put/call ratio of CLB is 0.16, indicating a bullish outlook.
Analyst Price Forecast Suggests 8.54% Downside
As of August 1, 2023, the average one-year price target for Core Laboratories is 23.33. The forecasts range from a low of 18.18 to a high of $32.55. The average price target represents a decrease of 8.54% from its latest reported closing price of 25.51.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Core Laboratories is 552MM, an increase of 8.26%. The projected annual non-GAAP EPS is 0.98.
What are Other Shareholders Doing?
Ariel Investments holds 9,509K shares representing 20.37% ownership of the company. In it's prior filing, the firm reported owning 9,703K shares, representing a decrease of 2.04%. The firm increased its portfolio allocation in CLB by 0.89% over the last quarter.
Fred Alger Management holds 3,583K shares representing 7.67% ownership of the company. In it's prior filing, the firm reported owning 3,854K shares, representing a decrease of 7.58%. The firm decreased its portfolio allocation in CLB by 6.26% over the last quarter.
ARGFX - Ariel Fund Investor Class holds 3,565K shares representing 7.64% ownership of the company. No change in the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,391K shares representing 7.26% ownership of the company. In it's prior filing, the firm reported owning 3,465K shares, representing a decrease of 2.17%. The firm increased its portfolio allocation in CLB by 3.45% over the last quarter.
Boston Trust Walden holds 2,199K shares representing 4.71% ownership of the company. In it's prior filing, the firm reported owning 2,093K shares, representing an increase of 4.79%. The firm increased its portfolio allocation in CLB by 5.43% over the last quarter.
Core Laboratories N.V. Background Information
(This description is provided by the company.)
Core Laboratories N.V. is a leading provider of proprietary and patented reservoir description and production enhancement services and products used to optimize petroleum reservoir performance. The Company has over 70 offices in more than 50 countries and is located in every major oil-producing province in the world.
Additional reading:
- CORE LABORATORIES N.V. & SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share data)
- Significant Subsidiaries of the Registrant
- Description of Share Capital
- Core Laboratories LP [CLB] Q4 2022 Earnings Conference Call Thursday, February 2, 2023, 8:30am ET.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
