RPC, Inc. (NYSE:RES – Get Free Report) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Investors of record on Monday, November 11th will be paid 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 2.67%. The ex-dividend date of this dividend is Friday, November 8th.
RPC has a dividend payout ratio of 28.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect RPC to earn $0.67 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 23.9%.
RPC Stock Down 4.6 %
Shares of NYSE:RES opened at $6.00 on Friday. The firm has a market cap of $1.29 billion, a P/E ratio of 10.91 and a beta of 1.55. RPC has a 12-month low of $5.66 and a 12-month high of $9.22. The business has a fifty day simple moving average of $6.42 and a 200 day simple moving average of $6.60.
Analyst Ratings Changes
Several research firms have issued reports on RES. Stifel Nicolaus lowered their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, October 11th. Susquehanna lowered their target price on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Citigroup cut their price target 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.
Check Out Our Latest Stock Report on RPC
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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