RPC, Inc. (RES) to Issue Quarterly Dividend of $0.07 on December 11th
RPC, Inc. (NYSE:RES) announced a quarterly dividend on Wednesday, October 25th, RTT News reports. Shareholders of record on Friday, November 10th will be paid a dividend of 0.07 per share by the oil and gas company on Monday, December 11th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from RPC’s previous quarterly dividend of $0.06.
RPC has decreased its dividend payment by an average of 50.0% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. RPC has a dividend payout ratio of 34.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RPC to earn $1.49 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 18.8%.
Shares of RPC (NYSE:RES) opened at $25.50 on Friday. The firm has a market cap of $5.52 billion, a price-to-earnings ratio of 64.69, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16. RPC has a twelve month low of $16.48 and a twelve month high of $25.72.
RPC (NYSE:RES) last issued its earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.03). The business had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. RPC had a return on equity of 10.31% and a net margin of 6.03%. The firm’s revenue for the quarter was up 167.8% on a year-over-year basis. During the same period last year, the company posted ($0.18) earnings per share. research analysts anticipate that RPC will post 0.81 EPS for the current fiscal year.
In related news, Director Amy Rollins Kreisler purchased 5,000 shares of RPC stock in a transaction dated Friday, October 27th. The stock was acquired at an average cost of $23.21 per share, with a total value of $116,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 73.50% of the stock is owned by corporate insiders.
A hedge fund recently raised its stake in RPC stock. The Manufacturers Life Insurance Company lifted its stake in RPC, Inc. (NYSE:RES) by 7.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,514 shares of the oil and gas company’s stock after purchasing an additional 459 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in RPC were worth $132,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 38.13% of the company’s stock.
Several equities analysts have recently commented on the stock. TheStreet upgraded shares of RPC from a “c+” rating to a “b” rating in a research report on Wednesday, October 25th. Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Cowen and Company upped their price target on shares of RPC from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Raymond James Financial, Inc. lowered shares of RPC from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, October 26th. Finally, Jefferies Group LLC set a $25.00 target price on shares of RPC and gave the company a “hold” rating in a research report on Thursday, October 26th. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $23.71.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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