RPC (NYSE:RES) Announces Earnings Results

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

RPC Stock Down 4.1 %

NYSE:RES opened at $6.16 on Friday. The business’s 50-day simple moving average is $6.26 and its two-hundred day simple moving average is $6.30. RPC has a 52 week low of $5.54 and a 52 week high of $8.19. The stock has a market cap of $1.32 billion, a PE ratio of 10.99 and a beta of 1.59.

RPC Dividend Announcement

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

Analysts Set New Price Targets

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