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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.04 per share by the oil and gas company on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Monday, August 10th.

RPC has a payout ratio of 36.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect RPC to earn $0.25 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 64.0%.

RPC Stock Up 6.0%

Shares of NYSE:RES traded up $0.30 during midday trading on Thursday, hitting $5.42. The stock had a trading volume of 2,064,152 shares, compared to its average volume of 2,142,208. RPC has a 12 month low of $4.18 and a 12 month high of $8.16. The company has a quick ratio of 2.61, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. The business’s 50-day simple moving average is $6.27 and its 200-day simple moving average is $6.48. The company has a market cap of $1.20 billion, a P/E ratio of 60.28 and a beta of 0.64.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The firm had revenue of $460.87 million for the quarter, compared to analyst estimates of $463.48 million. RPC had a net margin of 1.20% and a return on equity of 4.82%. The company’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. On average, sell-side analysts forecast that RPC will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RPC

Several hedge funds have recently added to or reduced their stakes in RES. Unison Advisors LLC bought a new position in RPC during the fourth quarter worth $687,000. Dimensional Fund Advisors LP raised its position in shares of RPC by 7.6% in the first quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock valued at $88,809,000 after purchasing an additional 883,118 shares during the period. Hussman Strategic Advisors Inc. bought a new position in shares of RPC in the fourth quarter valued at about $571,000. State of Wyoming lifted its stake in shares of RPC by 18.1% during the 1st quarter. State of Wyoming now owns 46,639 shares of the oil and gas company’s stock worth $330,000 after buying an additional 7,136 shares during the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of RPC during the 1st quarter worth about $80,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

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.