RPC, Inc. (NYSE:RES – Get Free Report) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.94 per share by the oil and gas company on Monday, June 10th. This represents a $3.76 annualized dividend and a yield of 51.09%. The ex-dividend date is Thursday, May 9th. This is an increase from RPC’s previous quarterly dividend of $0.04.
RPC has a dividend payout ratio of 15.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RPC to earn $1.13 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 14.2%.
RPC Stock Down 7.1 %
NYSE RES opened at $7.36 on Friday. RPC has a 52 week low of $6.34 and a 52 week high of $9.41. The stock has a market capitalization of $1.59 billion, a PE ratio of 8.18 and a beta of 1.60. The firm has a 50 day moving average of $7.64 and a two-hundred day moving average of $7.53.
Wall Street Analysts Forecast Growth
Separately, Susquehanna boosted their price objective on shares of RPC from $6.50 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th.
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.
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