RPC (NYSE:RES) Issues Earnings Results, Beats Expectations By $0.02 EPS

RPC (NYSE:RES) issued its quarterly earnings results on Thursday. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02, Briefing.com reports. The business had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.30 earnings per share.

RPC Trading Up 0.4 %

NYSE RES traded up $0.03 on Friday, hitting $6.96. 3,917,547 shares of the company’s stock were exchanged, compared to its average volume of 1,946,961. The stock has a 50-day moving average of $6.35 and a 200-day moving average of $6.96. RPC has a 52 week low of $5.66 and a 52 week high of $9.41. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 9.94 and a beta of 1.59.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, August 9th. RPC’s payout ratio is presently 22.86%.

Analyst Upgrades and Downgrades

RES has been the topic of a number of analyst reports. Citigroup reduced their price target on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus reduced their price target on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, Susquehanna reduced their price target on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, July 11th.

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.