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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Monday, February 10th will be paid a dividend of 0.04 per share by the oil and gas company on Monday, March 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.60%.

RPC has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect RPC to earn $0.34 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 47.1%.

RPC Trading Down 4.1 %

Shares of RES opened at $6.16 on Friday. The business’s 50-day moving average price is $6.26 and its 200 day moving average price is $6.30. The stock has a market capitalization of $1.32 billion, a P/E ratio of 10.99 and a beta of 1.59. RPC has a 1-year low of $5.54 and a 1-year high of $8.19.

RPC (NYSE:RES) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. RPC had a net margin of 8.07% and a return on equity of 11.36%. On average, research analysts predict that RPC will post 0.43 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on RES. Stifel Nicolaus reduced their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, October 11th. Susquehanna reduced their price objective on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, October 25th.

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.