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

RPC, Inc. (NYSE:RES) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Tuesday, November 10th will be given a dividend of $0.04 per share by the oil and gas company on Thursday, December 10th. This represents a $0.16 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, November 10th.

RPC has a dividend payout ratio of 36.4% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

RPC stock traded down $0.35 during trading hours on Thursday, hitting $6.38. The stock had a trading volume of 3,485,719 shares, compared to its average volume of 2,075,092. The company has a 50-day moving average of $6.15 and a two-hundred day moving average of $6.37. The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. RPC has a fifty-two week low of $4.99 and a fifty-two week high of $8.16. The company has a market cap of $1.41 billion, a PE ratio of 70.83 and a beta of 0.86.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. RPC had a return on equity of 4.82% and a net margin of 1.28%. The company had revenue of $467.74 million for the quarter, compared to analyst estimates of $469.12 million. During the same quarter last year, the firm earned $0.09 EPS. RPC’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, equities research analysts anticipate that RPC will post 0.26 EPS for the current fiscal year.

Key Stories Impacting RPC

Here are the key news stories impacting RPC this week:

• Positive Sentiment: RPC reported third-quarter revenue of approximately $467.7 million, up 1% sequentially and 4.6% year over year. Adjusted EBITDA was $71.5 million, representing a 15.3% margin. RPC third-quarter financial results
• Positive Sentiment: Adjusted earnings were approximately $0.10 per share, in line with some analyst estimates and above the $0.09 consensus cited by Zacks. Technical Services revenue reached $444.2 million, while Support Services revenue increased 3% sequentially to $23.5 million. RPC earnings estimate results
• Positive Sentiment: The company maintained its regular quarterly cash dividend of $0.04 per share, payable December 10 to shareholders of record November 10. RPC ended the quarter with $177.1 million in cash and cash equivalents. RPC dividend announcement
• Neutral Sentiment: Management discussed the third-quarter results and outlook during the earnings call, giving investors additional context on operating trends and the company’s oilfield-services businesses. RPC third-quarter earnings call transcript
• Negative Sentiment: RPC recorded a $41.9 million net loss, or $0.20 per diluted share, primarily because of a $74.5 million non-cash impairment tied to Pintail, its wireline business. The charge highlights concerns about the value and future profitability of that operation. RPC Pintail impairment report
• Negative Sentiment: Revenue was slightly below the approximately $469.1 million analyst estimate, while the reported net margin was only 1.28%. The combination of modest growth, weak GAAP profitability and the impairment appears to be outweighing the company’s adjusted EPS performance and dividend support. RPC earnings results

RPC Company Profile

RPC, Inc (NYSE: RES) is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.