RPC, Inc. (RES) To Go Ex-Dividend on August 10th

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Tuesday, July 28th. Shareholders 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 2.7%. The ex-dividend date of this dividend is Monday, August 10th.

RPC has a dividend payout ratio of 36.4% indicating that 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 Price Performance

Shares of NYSE:RES opened at $5.87 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 stock has a market cap of $1.30 billion, a PE ratio of 65.17 and a beta of 0.67. The company’s fifty day moving average is $6.11 and its 200 day moving average is $6.46. RPC has a 52 week low of $4.18 and a 52 week high of $8.16.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, July 30th. The oil and gas company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $460.87 million during the quarter, compared to the consensus estimate of $463.48 million. RPC had a net margin of 1.28% 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. Research analysts anticipate that RPC will post 0.26 earnings per share for the current year.

Institutional Investors Weigh In On RPC

Several large investors have recently added to or reduced their stakes in RES. EverSource Wealth Advisors LLC boosted its holdings in shares of RPC by 220.6% in the second 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 during the period. Tower Research Capital LLC TRC lifted its holdings in shares of RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after buying an additional 6,153 shares during the period. Aster Capital Management DIFC Ltd bought a new position in shares of RPC during the 4th quarter worth $48,000. CWM LLC grew its position in shares of RPC by 88.2% during the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after buying an additional 4,365 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of RPC during the second quarter valued at $54,000. 41.06% of the stock is owned by institutional investors.

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.