RPC (NYSE:RES) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

RPC (NYSE:RES) released its earnings results on Thursday. The oil and gas company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06), Briefing.com reports. The company had revenue of $377.80 million for the quarter, compared to the consensus estimate of $393.33 million. RPC had a net margin of 12.06% and a return on equity of 21.26%. The business’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS.

RPC Stock Down 3.9 %

RES traded down $0.29 during trading hours on Friday, reaching $7.07. 1,610,676 shares of the company’s stock traded hands, compared to its average volume of 1,622,343. The firm has a 50-day moving average price of $7.64 and a 200 day moving average price of $7.53. RPC has a 52-week low of $6.34 and a 52-week high of $9.41. The firm has a market capitalization of $1.52 billion, a PE ratio of 8.08 and a beta of 1.60.

RPC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $0.94 per share. The ex-dividend date is Thursday, May 9th. This represents a $3.76 dividend on an annualized basis and a yield of 53.18%. This is a boost from RPC’s previous quarterly dividend of $0.04. RPC’s payout ratio is presently 17.78%.

Analyst Upgrades and Downgrades

Separately, Susquehanna cut their target price on RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday.

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.