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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Monday, February 10th will be given 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 yield of 2.50%.

RPC has a dividend payout ratio of 36.4% meaning 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 Trading Down 0.7 %

NYSE RES opened at $6.39 on Thursday. The firm has a market cap of $1.37 billion, a PE ratio of 11.42 and a beta of 1.59. RPC has a 1-year low of $5.54 and a 1-year high of $8.19. The stock has a 50-day moving average of $6.26 and a 200-day moving average of $6.31.

RPC (NYSE:RES) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) 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%. As a group, equities research analysts forecast that RPC will post 0.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on RES. Stifel Nicolaus cut their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Susquehanna reduced their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report 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.