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

Key Points

• RPC declared a quarterly dividend of $0.04 per share, payable September 10 to shareholders of record on August 10. The dividend implies an annualized payout of $0.16 and a yield of approximately 2.9%.
• The dividend appears supported by earnings, with a current payout ratio of 36.4%; analysts expect next year’s earnings to cover the annual dividend at an estimated 64.0% payout ratio.
• RPC reported quarterly EPS of $0.08, exceeding analysts’ $0.04 estimate, while revenue reached $460.87 million and increased 9.5% year over year. Shares rose 6.0% to $5.42 during Thursday’s trading session.

RPC, Inc. (NYSE:RES - Get Free Report) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 10th will be given a dividend of 0.04 per share by the oil and gas company on Thursday, September 10th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th.

RPC has a payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect RPC to earn $0.25 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 64.0%.

RPC Stock Up 6.0%

Shares of NYSE:RES traded up $0.30 during trading on Thursday, hitting $5.42. 2,064,152 shares of the company's stock traded hands, compared to its average volume of 2,142,208. RPC has a 52 week low of $4.18 and a 52 week high of $8.16. The company has a current ratio of 3.13, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 60.28 and a beta of 0.64. The company has a 50-day moving average price of $6.27 and a 200-day moving average price of $6.48.

RPC (NYSE:RES - Get Free Report) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.04. The business had revenue of $460.87 million during the quarter, compared to analysts' expectations of $463.48 million. RPC had a return on equity of 4.82% and a net margin of 1.20%.RPC's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. As a group, research analysts forecast that RPC will post 0.2 EPS for the current fiscal year.

About RPC

RPC, Inc NYSE: RES provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.

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