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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, October 24th, RTT News reports. Investors 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 dividend on an annualized basis and a dividend yield of 2.54%.

RPC has a dividend payout ratio of 28.1% indicating that 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 Price Performance

RES stock opened at $6.29 on Thursday. RPC has a fifty-two week low of $5.66 and a fifty-two week high of $9.22. The firm’s 50-day simple moving average is $6.42 and its 200 day simple moving average is $6.61. The stock has a market cap of $1.35 billion, a PE ratio of 11.44 and a beta of 1.55.

RPC (NYSE:RES) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $364.20 million during the quarter, compared to analyst estimates of $381.18 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. RPC’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. Equities analysts forecast that RPC will post 0.55 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on RES. Susquehanna decreased their target price on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Stifel Nicolaus decreased their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Finally, Citigroup decreased their target price on shares of RPC from $6.75 to $5.25 and set a “sell” rating for the company 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.