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

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

RPC Stock Up 0.4 %

Shares of RPC stock traded up $0.03 during trading hours on Friday, reaching $6.96. 3,917,547 shares of the company’s stock were exchanged, compared to its average volume of 1,946,961. RPC has a 1 year low of $5.66 and a 1 year high of $9.41. The company has a market capitalization of $1.49 billion, a P/E ratio of 9.94 and a beta of 1.59. The business has a fifty day moving average of $6.35 and a two-hundred day moving average of $6.96.

RPC Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.