RPC (NYSE:RES) Issues Quarterly Earnings Results

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

RPC Trading Down 4.8 %

RES stock traded down $0.31 during mid-day trading on Thursday, hitting $6.11. 1,051,353 shares of the company were exchanged, compared to its average volume of 1,507,398. RPC has a 1-year low of $5.54 and a 1-year high of $8.19. The business has a 50 day simple moving average of $6.26 and a 200-day simple moving average of $6.31. The stock has a market capitalization of $1.31 billion, a PE ratio of 10.94 and a beta of 1.59.

RPC Dividend Announcement

The business 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 dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.62%. RPC’s payout ratio is 28.57%.

Wall Street Analyst Weigh In

RES has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Susquehanna dropped their price target on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th.

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.