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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, April 24th, RTT News reports. Investors of record on Friday, May 9th will be given a dividend of 0.04 per share by the oil and gas company on Tuesday, June 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, May 9th.

RPC has a payout ratio of 35.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RPC to earn $0.45 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 35.6%.

RPC Stock Performance

Shares of NYSE RES opened at $4.76 on Wednesday. The company’s fifty day moving average is $5.11 and its two-hundred day moving average is $5.78. The firm has a market capitalization of $1.05 billion, a P/E ratio of 11.07 and a beta of 0.86. RPC has a one year low of $4.10 and a one year high of $7.54.

RPC (NYSE:RES) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). RPC had a net margin of 6.46% and a return on equity of 8.62%. The firm had revenue of $332.88 million during the quarter, compared to analyst estimates of $326.72 million. During the same period last year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, sell-side analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RES. Citigroup raised RPC from a “sell” rating to a “neutral” rating and reduced their target price for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th. Susquehanna reduced their target price on shares of RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, April 14th.

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.