RPC, Inc. (NYSE:RES) Shareholders to Collect $0.04 Quarterly Dividend

Key Points

• RPC declared a quarterly dividend of $0.04 per share, payable December 10 to shareholders of record on November 10. The annualized dividend is $0.16, representing a 2.5% yield.
• The dividend appears supported by earnings, with a current payout ratio of 36.4%; analysts expect next year’s earnings to cover the dividend at an estimated 59.3% payout ratio.
• RPC shares fell 5.3% to $6.38 during trading. The company’s latest earnings matched estimates at $0.10 per share, while quarterly revenue rose 4.6% year over year to $467.74 million.

RPC, Inc. (NYSE:RES - Get Free Report) announced a quarterly dividend on Thursday, October 29th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.04 per share by the oil and gas company on Thursday, December 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, November 10th.

RPC has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect RPC to earn $0.27 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 59.3%.

RPC Stock Down 5.3%

RPC stock traded down $0.35 during mid-day trading on Thursday, hitting $6.38. 3,485,719 shares of the company's stock were exchanged, compared to its average volume of 2,075,092. RPC has a 1-year low of $4.99 and a 1-year high of $8.16. The stock has a 50 day moving average of $6.15 and a two-hundred day moving average of $6.37. The company has a current ratio of 3.34, a quick ratio of 2.76 and a debt-to-equity ratio of 0.02. The stock has a market cap of $1.41 billion, a P/E ratio of 70.83 and a beta of 0.86.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The company had revenue of $467.74 million during the quarter, compared to analysts' expectations of $469.12 million. RPC had a return on equity of 4.82% and a net margin of 1.28%. The business's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.09 earnings per share. As a group, analysts anticipate that RPC will post 0.26 EPS for the current fiscal year.

RPC Company Profile

RPC, Inc NYSE: RES is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company's services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.

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