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

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 dividend on an annualized basis and a yield of 2.67%.

RPC has a dividend payout ratio of 28.1% indicating that its dividend is sufficiently covered by earnings. Research 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

Shares of RES traded down $0.29 during midday trading on Thursday, hitting $6.00. 3,542,819 shares of the company traded hands, compared to its average volume of 1,725,867. The stock has a 50-day moving average of $6.42 and a 200-day moving average of $6.61. RPC has a one year low of $5.66 and a one year high of $9.22. The firm has a market cap of $1.29 billion, a P/E ratio of 10.55 and a beta of 1.55.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The firm had revenue of $364.20 million for the quarter, compared to analysts' expectations of $381.18 million. During the same period in the prior year, the business posted $0.30 earnings per share. The company's revenue was down 12.4% on a year-over-year basis. Sell-side analysts forecast that RPC will post 0.55 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Citigroup cut their target price on RPC from $6.75 to $5.25 and set a "sell" rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus lowered their price objective on RPC from $8.00 to $7.00 and set a "hold" rating for the company in a research report on Friday, October 11th. Finally, Susquehanna lowered their price objective on RPC from $7.00 to $6.50 and set a "neutral" rating for the company in a research report on Thursday, July 11th.

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.