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

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

RPC Trading Up 0.4 %

NYSE:RES traded up $0.03 on Friday, hitting $6.96. The company had a trading volume of 3,917,547 shares, compared to its average volume of 1,946,961. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 9.94 and a beta of 1.59. The firm has a 50 day moving average of $6.35 and a two-hundred day moving average of $6.96. RPC has a 52 week low of $5.66 and a 52 week high of $9.41.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Friday, August 9th will be paid a $0.04 dividend. 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 22.86%.

Analyst Ratings Changes

Several research firms recently issued reports on RES. Citigroup reduced their price target on shares of 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 shares of 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 shares of 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.