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

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Investors of record on Friday, May 10th will be paid a dividend of 0.04 per share by the oil and gas company on Monday, June 10th. This represents a $0.16 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend is Thursday, May 9th.

RPC has a dividend payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RPC to earn $1.06 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 15.1%.

RPC Price Performance

Shares of RES opened at $6.80 on Wednesday. The company has a market cap of $1.46 billion, a PE ratio of 9.71 and a beta of 1.65. The firm has a 50-day moving average of $7.56 and a 200-day moving average of $7.40. RPC has a one year low of $6.34 and a one year high of $9.41.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $377.80 million for the quarter, compared to the consensus estimate of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. Analysts expect that RPC will post 0.71 earnings per share for the current year.

Analyst Ratings Changes

Separately, Susquehanna decreased their target price on RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th.

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.