RPC (NYSE:RES) Announces Earnings Results

RPC (NYSE:RES) announced its quarterly earnings data on Thursday. The oil and gas company reported $0.15 earnings per share 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 analysts’ expectations of $381.18 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. The business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.30 earnings per share.

RPC Price Performance

RPC stock traded up $0.03 during midday trading on Friday, reaching $6.96. 3,917,547 shares of the company traded hands, compared to its average volume of 1,946,961. The firm has a market capitalization of $1.49 billion, a price-to-earnings ratio of 9.94 and a beta of 1.59. The business has a 50 day moving average of $6.35 and a two-hundred day moving average of $6.96. RPC has a 12 month low of $5.66 and a 12 month high of $9.41.

RPC Announces Dividend

The company also recently declared 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 of this dividend is Friday, August 9th. RPC’s payout ratio is 22.86%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RES. Citigroup cut their price objective on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Susquehanna cut their price target on shares of RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Stifel Nicolaus cut their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th.

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.