RPC, Inc. (RES) to Issue Quarterly Dividend of $0.10 on December 10th

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RPC, Inc. (NYSE:RES) announced a quarterly dividend on Wednesday, October 24th, RTT News reports. Stockholders of record on Friday, November 9th will be given a dividend of 0.10 per share by the oil and gas company on Monday, December 10th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Thursday, November 8th.

RPC has decreased its dividend by an average of 32.4% annually over the last three years and has increased its dividend every year for the last 5 years. RPC has a payout ratio of 42.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RPC to earn $0.75 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 53.3%.

NYSE RES opened at $14.60 on Wednesday. The company has a quick ratio of 3.01, a current ratio of 3.74 and a debt-to-equity ratio of 0.01. The stock has a market cap of $3.18 billion, a PE ratio of 22.12, a P/E/G ratio of 0.97 and a beta of 0.70. RPC has a 52-week low of $12.96 and a 52-week high of $27.07.

RPC (NYSE:RES) last posted its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The company had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. RPC had a return on equity of 20.48% and a net margin of 12.40%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.26 EPS. As a group, equities research analysts expect that RPC will post 0.84 earnings per share for the current year.

A number of analysts have recently issued reports on RES shares. Cowen restated a “hold” rating and set a $15.00 target price on shares of RPC in a research note on Thursday, July 26th. Macquarie set a $13.00 target price on shares of RPC and gave the stock a “hold” rating in a research note on Thursday, October 25th. Bank of America began coverage on shares of RPC in a research note on Wednesday, October 17th. They issued a “neutral” rating for the company. BMO Capital Markets cut shares of RPC from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $19.00 to $16.00 in a research note on Thursday, August 9th. Finally, Zacks Investment Research cut shares of RPC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company. RPC has a consensus rating of “Hold” and an average target price of $17.35.

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RPC Company Profile

RPC, Inc provides 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 offers pressure pumping, fracturing, acidizing, 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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Dividend History for RPC (NYSE:RES)

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