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

RPC, Inc. (NYSE:RES - Get Free Report) declared a quarterly dividend on Thursday, July 24th, RTT News reports. Shareholders of record on Monday, August 11th will be given a dividend of 0.04 per share by the oil and gas company on Wednesday, September 10th. This represents a $0.16 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Monday, August 11th.

RPC has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. 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 Trading Down 0.3%

Shares of NYSE RES traded down $0.02 on Friday, reaching $4.80. 1,721,587 shares of the company traded hands, compared to its average volume of 1,967,943. The company has a 50 day moving average of $4.84 and a 200 day moving average of $5.30. The company has a current ratio of 2.64, a quick ratio of 4.18 and a debt-to-equity ratio of 0.03. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $7.53. The stock has a market capitalization of $1.06 billion, a PE ratio of 18.44 and a beta of 0.85.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The firm had revenue of $420.81 million during the quarter, compared to analysts' expectations of $421.08 million. RPC had a return on equity of 5.65% and a net margin of 3.77%. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 earnings per share. On average, equities research analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RES. Strs Ohio acquired a new stake in shares of RPC during the 1st quarter valued at $92,000. AQR Capital Management LLC raised its stake in RPC by 1.1% during the 1st quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company's stock valued at $2,994,000 after purchasing an additional 5,914 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of RPC by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company's stock valued at $278,000 after purchasing an additional 2,190 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on RES. Susquehanna cut their price target on RPC from $5.50 to $5.00 and set a "neutral" rating on the stock in a research note on Friday. Citigroup raised shares of RPC from a "sell" rating to a "neutral" rating and decreased their price target for the company from $5.50 to $4.75 in a report on Tuesday, April 8th. Stifel Nicolaus cut their target price on shares of RPC from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Finally, Piper Sandler set a $5.00 price objective on RPC and gave the company an "underweight" rating in a research report on Monday, July 14th.

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.