RPC (NYSE:RES) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Posted by Rob Hiaasen on Jul 28th, 2024

RPC (NYSE:RES – Get Free Report) posted its earnings results on Thursday. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02, Briefing.com reports. The business had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. RPC’s revenue was down 12.4% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS.

RPC Stock Up 0.4 %

RES stock opened at $6.96 on Friday. The company has a market cap of $1.49 billion, a P/E ratio of 9.94 and a beta of 1.59. RPC has a twelve month low of $5.66 and a twelve month high of $9.41. The business has a fifty day moving average of $6.35 and a 200-day moving average of $6.96.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.30%. RPC’s payout ratio is currently 22.86%.

Analyst Ratings Changes

Several brokerages have issued reports on RES. Citigroup cut their price objective on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Stifel Nicolaus cut their price objective on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, Susquehanna cut their price objective on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, July 11th.

View Our Latest Report on RES

About RPC

(Get Free Report)

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.