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

RPC (NYSE:RES) issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06), Briefing.com reports. The firm had revenue of $377.80 million during the quarter, compared to analysts’ expectations of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The firm’s quarterly revenue was down 20.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 earnings per share.

RPC Trading Up 3.5 %

RPC stock traded up $0.24 during midday trading on Monday, hitting $7.01. 254,872 shares of the stock were exchanged, compared to its average volume of 1,633,451. RPC has a fifty-two week low of $6.34 and a fifty-two week high of $9.41. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 9.67 and a beta of 1.65. The stock’s 50-day simple moving average is $7.58 and its 200 day simple moving average is $7.43.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.28%. RPC’s dividend payout ratio is currently 22.86%.

Analyst Ratings Changes

Separately, Susquehanna lowered their price objective on shares of RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a research note on Friday, April 26th.

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.