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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, October 29th. 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 yield of 2.5%. 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 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 stock opened at $6.38 on Friday. The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 70.83 and a beta of 0.86. RPC has a 12 month low of $4.99 and a 12 month high of $8.16. The firm has a 50 day moving average of $6.15 and a two-hundred day moving average of $6.37.

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

Trending Headlines about RPC

Here are the key news stories impacting RPC this week:

• Positive Sentiment: RPC declared a quarterly cash dividend of $0.04 per share, payable December 10 to shareholders of record November 10. The annualized payout is $0.16 per share, representing an indicated yield of approximately 2.5%. RPC third-quarter results and dividend announcement
• Neutral Sentiment: Third-quarter revenue was $467.7 million, up 4.6% year over year and approximately 1% sequentially, while adjusted EBITDA totaled $71.5 million, with a 15.3% margin. Technical Services revenue rose 1% sequentially to $444.2 million, and Support Services revenue increased 3% to $23.5 million. RPC third-quarter operating results
• Neutral Sentiment: Underlying earnings were broadly in line with expectations: RPC reported quarterly EPS of $0.10, matching some consensus estimates and exceeding the $0.09 estimate cited by Zacks. However, revenue of $467.7 million was slightly below the $469.1 million analyst forecast. RPC earnings and revenue estimates
• Negative Sentiment: RPC recorded a $41.9 million net loss, or $0.20 per diluted share, after recognizing a $74.5 million non-cash impairment tied to Pintail, its wireline business. The charge raises concerns about the value and outlook of that operation and overshadowed the earnings performance. RPC Pintail impairment and third-quarter loss

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.