RPC (NYSE:RES) Announces Quarterly Earnings Results

RPC (NYSE:RES) posted 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 Stock Performance

Shares of RPC stock traded down $0.31 during midday trading on Thursday, reaching $6.11. 1,051,353 shares of the company’s stock traded hands, compared to its average volume of 1,507,398. RPC has a 12 month low of $5.54 and a 12 month high of $8.19. The company has a market cap of $1.31 billion, a PE ratio of 10.94 and a beta of 1.59. The stock has a 50 day moving average of $6.26 and a 200-day moving average of $6.31.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.62%. RPC’s payout ratio is 28.57%.

Wall Street Analysts Forecast Growth

RES has been the subject of several recent research reports. Susquehanna reduced their target price on shares of RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research note 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.