RPC (NYSE:RES) Releases Earnings Results, Misses Expectations By $0.05 EPS

RPC (NYSE:RES) issued its earnings results on Thursday. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05), Briefing.com reports. The firm had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. RPC’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 EPS.

RPC Price Performance

NYSE:RES traded down $0.03 during trading hours on Friday, reaching $5.97. The company had a trading volume of 2,001,165 shares, compared to its average volume of 1,727,197. RPC has a 1-year low of $5.66 and a 1-year high of $8.60. The firm has a market cap of $1.28 billion, a PE ratio of 8.59 and a beta of 1.55. The business’s 50 day moving average price is $6.42 and its 200-day moving average price is $6.60.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Friday, November 8th. RPC’s payout ratio is presently 22.86%.

Analysts Set New Price Targets

RES has been the topic of a number of recent research reports. Stifel Nicolaus dropped their target price on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Susquehanna dropped their target price on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Citigroup dropped their target price on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th.

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.