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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Stockholders of record on Monday, November 11th will be given a dividend of 0.04 per share by the oil and gas company on Tuesday, December 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 8th.

RPC has a dividend payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

Shares of RES opened at $6.46 on Thursday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 11.54 and a beta of 1.58. RPC has a 1 year low of $5.63 and a 1 year high of $8.19. The company’s fifty day moving average is $6.33 and its two-hundred day moving average is $6.47.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.08 earnings per share. Sell-side analysts predict that RPC will post 0.43 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on RES shares. Stifel Nicolaus reduced their price target on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, October 11th. Citigroup decreased their target price on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Finally, Susquehanna lowered their price target on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th.

RPC Company Profile

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.