RPC, Inc. (NYSE:RES) Announces $0.04 Quarterly Dividend

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Monday, November 11th will be paid a dividend of 0.04 per share by the oil and gas company on Tuesday, December 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, November 8th.

RPC has a payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect RPC to earn $0.67 per share next year, which means the company should continue to be able to cover its $0.16 annual dividend with an expected future payout ratio of 23.9%.

RPC Price Performance

NYSE RES opened at $6.00 on Friday. The business has a fifty day moving average price of $6.42 and a two-hundred day moving average price of $6.60. The stock has a market capitalization of $1.29 billion, a PE ratio of 10.91 and a beta of 1.55. RPC has a fifty-two week low of $5.66 and a fifty-two week high of $9.22.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The business had revenue of $364.20 million for the quarter, compared to analyst estimates of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. RPC’s revenue was down 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. As a group, sell-side analysts expect that RPC will post 0.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RES has been the topic of a number of research analyst reports. Citigroup decreased their price target on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus decreased their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Finally, Susquehanna lowered their price target on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th.

About RPC

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.