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

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Shareholders of record on Friday, May 10th will be given a dividend of 0.04 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. Equities 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 Stock Performance

RPC stock opened at $6.80 on Wednesday. The firm has a market cap of $1.46 billion, a PE ratio of 9.71 and a beta of 1.65. The firm’s 50 day moving average price is $7.56 and its two-hundred day moving average price is $7.40. RPC has a twelve month low of $6.34 and a twelve month high of $9.41.

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

Analysts Set New Price Targets

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

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.