Core Laboratories N.V. (CLB) Declares $0.01 Dividend

Core Laboratories N.V. said on April 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.

Shares must be purchased before the ex-div date of May 5, 2023 to qualify for the dividend. Shareholders of record as of May 8, 2023 will receive the payment on May 30, 2023.

At the current share price of $22.56 / share, the stock's dividend yield is 0.18%.

Looking back five years and taking a sample every week, the average dividend yield has been 1.39%, the lowest has been 0.08%, and the highest has been 7.40%. The standard deviation of yields is 1.73 (n=237).

The current dividend yield is 0.70 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.08. 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.

Learn to Harvest Dividends

Buy Stock. Capture Dividend. Sell Stock. Repeat. This is the essence of dividend harvesting and you can do it easily with Fintel's Dividend Capture Calendar.

What is the Fund Sentiment?

There are 319 funds or institutions reporting positions in Core Laboratories N.V.. This is an increase of 5 owner(s) or 1.59% in the last quarter. Average portfolio weight of all funds dedicated to CLB is 0.32%, an increase of 82.57%. Total shares owned by institutions increased in the last three months by 2.12% to 58,159K shares. The put/call ratio of CLB is 0.04, indicating a bullish outlook.

Analyst Price Forecast Suggests 2.01% Upside

As of April 24, 2023, the average one-year price target for Core Laboratories N.V. is 23.01. The forecasts range from a low of 18.18 to a high of $33.60. The average price target represents an increase of 2.01% from its latest reported closing price of 22.56.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Core Laboratories N.V. is 552MM, an increase of 9.76%. The projected annual non-GAAP EPS is 0.98.

What are Other Shareholders Doing?

Ariel Investments holds 9,703K shares representing 20.81% ownership of the company. In it's prior filing, the firm reported owning 9,765K shares, representing a decrease of 0.64%. The firm increased its portfolio allocation in CLB by 40.96% over the last quarter.

Fred Alger Management holds 3,854K shares representing 8.26% ownership of the company. In it's prior filing, the firm reported owning 4,089K shares, representing a decrease of 6.11%. The firm increased its portfolio allocation in CLB by 35.71% over the last quarter.

Earnest Partners holds 3,573K shares representing 7.66% ownership of the company. In it's prior filing, the firm reported owning 3,314K shares, representing an increase of 7.24%. The firm increased its portfolio allocation in CLB by 47.92% 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 3,465K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 3,395K shares, representing an increase of 2.02%. The firm increased its portfolio allocation in CLB by 39.62% 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.

This story originally appeared on Fintel.