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

Key Points

• Dividend declared: RPC announced a quarterly dividend of $0.04 per share (annualized $0.16) with an ex-dividend/record date of May 11 and payment on June 10, implying a yield of about 2.0%.
• Coverage outlook: The payout ratio is 36.4% today, and analysts forecast $0.27 EPS next year (an implied future payout ratio of ~59.3%), suggesting the dividend is likely sustainable under current expectations.
• Recent results: RPC missed quarterly EPS estimates with $0.04 reported but delivered revenue up 26.9% year-over-year.

RPC, Inc. (NYSE:RES - Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Shareholders of record on Monday, May 11th will be paid a dividend of 0.04 per share by the oil and gas company on Wednesday, June 10th. This represents a c) dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, May 11th.

RPC has a payout ratio of 36.4% meaning 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 Performance

RES opened at $7.95 on Wednesday. The business's 50-day moving average price is $6.71 and its two-hundred day moving average price is $5.95. RPC has a 1 year low of $4.18 and a 1 year high of $8.16. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of 52.97 and a beta of 0.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $425.78 million during the quarter, compared to analyst estimates of $423.30 million. RPC had a net margin of 1.97% and a return on equity of 5.24%. The business's revenue for the quarter was up 26.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Equities analysts expect that RPC will post 0.18 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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