RPC, Inc. (RES) to Issue Quarterly Dividend of $0.04 on June 10th
by Doug Wharley · The Cerbat GemRPC, Inc. (NYSE:RES – Get Free Report) declared a quarterly dividend on Tuesday, April 28th. Investors of record on Monday, May 11th will be given a dividend of 0.04 per share by the oil and gas company on Wednesday, June 10th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, May 11th.
RPC has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 4.7%
Shares of RPC stock opened at $6.80 on Friday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 75.50 and a beta of 0.69. The company has a quick ratio of 2.70, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. RPC has a 12-month low of $4.18 and a 12-month high of $8.16. The firm’s 50-day moving average price is $6.87 and its two-hundred day moving average price is $6.07.
RPC (NYSE:RES – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $454.76 million for the quarter, compared to the consensus estimate of $406.68 million. RPC had a net margin of 1.20% and a return on equity of 4.82%. The business’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, analysts forecast that RPC will post 0.18 earnings per share for the current fiscal year.
Institutional Trading of RPC
Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC increased its stake in RPC by 220.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in RPC by 243.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 6,153 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in RPC during the 4th quarter valued at $48,000. Hantz Financial Services Inc. increased its stake in RPC by 940.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 8,237 shares in the last quarter. Finally, CWM LLC increased its stake in RPC by 88.2% during the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 4,365 shares in the last quarter. Institutional investors 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.