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

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Thursday, July 25th, RTT News reports. Shareholders of record on Friday, August 9th will be given a dividend of 0.04 per share by the oil and gas company on Tuesday, September 10th. This represents a $0.16 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, August 9th.

RPC has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NYSE RES opened at $6.93 on Friday. RPC has a 1-year low of $5.66 and a 1-year high of $9.41. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 9.90 and a beta of 1.59. The business has a 50-day moving average of $6.35 and a 200-day moving average of $6.96.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $377.80 million during the quarter, compared to analysts’ expectations of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The firm’s revenue was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.39 EPS. Research analysts expect that RPC will post 0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RES shares. Susquehanna lowered their price target on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th. Stifel Nicolaus dropped their target price on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, Citigroup cut their price target on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $6.25.

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.