RPC, Inc. (RES) To Go Ex-Dividend on November 10th

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Tuesday, October 27th. Shareholders of record on Tuesday, November 10th will be given 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 dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, November 10th.

RPC has a dividend payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect RPC to earn $0.29 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 55.2%.

RPC Stock Performance

Shares of NYSE:RES opened at $5.30 on Friday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of -31.20 and a beta of 0.82. The company has a 50-day moving average price of $6.09 and a 200-day moving average price of $6.36. The company has a current ratio of 3.52, a quick ratio of 2.85 and a debt-to-equity ratio of 0.02. RPC has a 12 month low of $4.99 and a 12 month high of $8.16.

RPC (NYSE:RES) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. RPC had a positive return on equity of 5.26% and a negative net margin of 1.77%. The company had revenue of $467.74 million for the quarter, compared to analysts’ expectations of $469.12 million. During the same period last year, the firm earned $0.09 earnings per share. RPC’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, equities analysts anticipate that RPC will post 0.29 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore cut RPC to an “outperform” rating in a report on Friday, October 30th. Weiss Ratings lowered RPC from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, November 2nd. Finally, Freedom Broker cut RPC from a “hold” rating to a “sell” rating and reduced their target price for the company from $6.00 to $5.00 in a research note on Friday, October 30th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, RPC currently has a consensus rating of “Reduce” and an average price target of $5.67.

About RPC

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.