RPC (NYSE:RES) Posts Quarterly Earnings Results, Hits Expectations

RPC (NYSE:RES) issued its quarterly earnings results on Thursday. The oil and gas company reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06, Zacks reports. RPC had a return on equity of 11.36% and a net margin of 8.07%.

RPC Price Performance

RES opened at $6.16 on Friday. The firm has a market cap of $1.32 billion, a PE ratio of 10.99 and a beta of 1.59. The stock has a 50-day moving average price of $6.26 and a 200-day moving average price of $6.30. RPC has a 1 year low of $5.54 and a 1 year high of $8.19.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.60%. RPC’s dividend payout ratio is currently 28.57%.

Analyst Ratings Changes

A number of analysts have recently commented on RES shares. Stifel Nicolaus dropped their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Susquehanna cut their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

RPC Company Profile

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.