RPC said on July 26, 2023 that its board of directors declared a regular quarterly dividend of $0.04 per share ($0.16 annualized). Previously, the company paid $0.04 per share.
Shares must be purchased before the ex-div date of August 9, 2023 to qualify for the dividend. Shareholders of record as of August 10, 2023 will receive the payment on September 11, 2023.
At the current share price of $8.14 / share, the stock's dividend yield is 1.97%.
Looking back five years and taking a sample every week, the average dividend yield has been 2.50%, the lowest has been 0.72%, and the highest has been 4.93%. The standard deviation of yields is 1.27 (n=81).
The current dividend yield is 0.42 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.12. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 517 funds or institutions reporting positions in RPC. This is an increase of 26 owner(s) or 5.30% in the last quarter. Average portfolio weight of all funds dedicated to RES is 0.09%, a decrease of 9.22%. Total shares owned by institutions increased in the last three months by 5.96% to 94,585K shares. 
The put/call ratio of RES is 0.29, indicating a bullish outlook.
Analyst Price Forecast Suggests 25.31% Upside
As of July 6, 2023, the average one-year price target for RPC is 10.20. The forecasts range from a low of 7.07 to a high of $13.65. The average price target represents an increase of 25.31% from its latest reported closing price of 8.14.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for RPC is 1,831MM, a decrease of 0.17%. The projected annual non-GAAP EPS is 1.19.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 6,052K shares representing 2.84% ownership of the company. In it's prior filing, the firm reported owning 6,167K shares, representing a decrease of 1.89%. The firm decreased its portfolio allocation in RES by 17.51% over the last quarter.
OIH - VanEck Vectors Oil Services ETF holds 4,068K shares representing 1.91% ownership of the company. In it's prior filing, the firm reported owning 4,594K shares, representing a decrease of 12.93%. The firm decreased its portfolio allocation in RES by 18.93% over the last quarter.
Van Eck Associates holds 3,976K shares representing 1.87% ownership of the company. In it's prior filing, the firm reported owning 4,649K shares, representing a decrease of 16.93%. The firm decreased its portfolio allocation in RES by 34.81% over the last quarter.
Millennium Management holds 3,187K shares representing 1.50% ownership of the company. In it's prior filing, the firm reported owning 4,168K shares, representing a decrease of 30.81%. The firm decreased its portfolio allocation in RES by 31.46% over the last quarter.
Gamco Investors, Inc. Et Al holds 3,122K shares representing 1.47% ownership of the company. In it's prior filing, the firm reported owning 3,134K shares, representing a decrease of 0.38%. The firm decreased its portfolio allocation in RES by 13.80% over the last quarter.
RPC Background Information
(This description is provided by the company.)
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets.
Additional reading:
- Merger agreement between Catapult services.
- RPC, Inc. Reports Second Quarter 2023 Financial Results
- RPC, Inc. Announces Regular Quarterly Cash Dividend
- RPC, Inc. Expands its Oilfield Cementing Service Line Through the Acquisition of Spinnaker Oilwell Services, LLC
- RPC, Inc. Announces Date for Second Quarter 2023 Financial Results and Conference Call
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
