RPC, Inc. (RES) To Go Ex-Dividend on May 9th

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Stockholders of record on Friday, May 10th will be paid a dividend of 0.04 per share by the oil and gas company on Monday, June 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th.

RPC has a payout ratio of 18.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 1.3 %

Shares of NYSE RES opened at $6.86 on Tuesday. The company’s fifty day moving average is $7.57 and its 200-day moving average is $7.41. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 9.79 and a beta of 1.65. RPC has a twelve month low of $6.34 and a twelve month high of $9.41.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). The company had revenue of $377.80 million during the quarter, compared to the consensus estimate of $393.33 million. RPC had a net margin of 9.95% and a return on equity of 15.02%. The company’s revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 earnings per share. On average, research analysts anticipate that RPC will post 0.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Susquehanna lowered their price target on shares of RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th.

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.