RPC, Inc. (NYSE:RES – Get Free Report) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Investors of record on Friday, May 10th will be given a dividend of 0.04 per share by the oil and gas company on Monday, June 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Thursday, May 9th.
RPC has a payout ratio of 18.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect RPC to earn $1.06 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 15.1%.
RPC Stock Performance
Shares of RPC stock traded up $0.24 during midday trading on Monday, reaching $7.01. 254,872 shares of the company’s stock traded hands, compared to its average volume of 1,633,451. RPC has a 52 week low of $6.34 and a 52 week high of $9.41. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 9.67 and a beta of 1.65. The company’s 50 day simple moving average is $7.58 and its 200 day simple moving average is $7.43.
Wall Street Analyst Weigh In
Separately, Susquehanna lowered their target price on shares of RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, April 26th.
View Our Latest Stock Analysis on RPC
About RPC
RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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