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

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 2.72%. The ex-dividend date of this dividend is Friday, November 8th.

RPC has a payout ratio of 38.1% 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 Up 3.5 %

RPC stock opened at $5.88 on Wednesday. The company has a market cap of $1.26 billion, a PE ratio of 10.50 and a beta of 1.58. The company’s 50-day moving average is $6.33 and its two-hundred day moving average is $6.47. RPC has a 1 year low of $5.63 and a 1 year high of $8.34.

RPC (NYSE:RES) last issued its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The business had revenue of $337.70 million for the quarter, compared to the consensus estimate of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. Research analysts forecast that RPC will post 0.43 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on RES shares. Stifel Nicolaus dropped their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, October 11th. Susquehanna cut 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. Finally, Citigroup cut their price objective 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.

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.