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

RPC, Inc. (NYSE:RES) announced a quarterly dividend on Wednesday, January 28th. Stockholders of record on Tuesday, February 10th will be given a dividend of 0.04 per share by the oil and gas company on Tuesday, March 10th. This represents a c) annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Tuesday, February 10th.

RPC has increased its dividend payment by an average of 0.0%annually over the last three years. 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 $0.45 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 35.6%.

RPC Stock Performance

RES opened at $6.72 on Friday. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 29.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.31 and a current ratio of 2.78. The company has a fifty day moving average of $5.77 and a 200 day moving average of $5.12. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $7.04.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.05 by $0.04. RPC had a return on equity of 5.58% and a net margin of 3.12%.The firm had revenue of $447.10 million during the quarter, compared to analyst estimates of $402.31 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. As a group, sell-side analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of RPC

A number of hedge funds have recently made changes to their positions in the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in RPC during the second quarter valued at approximately $47,000. Congress Asset Management Co. bought a new position in shares of RPC during the 3rd quarter worth about $5,959,000. Arrowstreet Capital Limited Partnership raised its holdings in RPC by 31.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock worth $13,245,000 after buying an additional 670,432 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of RPC in the second quarter valued at $259,000. Finally, Carolina Wealth Advisors LLC grew its holdings in shares of RPC by 7,851.8% during the third quarter. Carolina Wealth Advisors LLC now owns 1,277,544 shares of the oil and gas company’s stock valued at $6,081,000 after buying an additional 1,261,478 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

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.