RPC (RES) Announces Earnings Results, Misses Estimates By $0.05 EPS

RPC (NYSE:RES) announced its quarterly earnings results on Wednesday. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05), reports. RPC had a net margin of 10.19% and a return on equity of 17.63%. The business had revenue of $334.70 million for the quarter, compared to analysts’ expectations of $351.95 million. During the same quarter in the prior year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was down 23.3% on a year-over-year basis.

Shares of RPC stock traded down $1.66 during midday trading on Wednesday, hitting $11.23. The company had a trading volume of 76,718 shares, compared to its average volume of 1,774,070. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 2.73 and a beta of 0.99. RPC has a 1-year low of $9.35 and a 1-year high of $20.18.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. RPC’s payout ratio is 48.78%.

In related news, Director Pam R. Rollins acquired 10,000 shares of the stock in a transaction dated Thursday, January 31st. The shares were acquired at an average price of $10.85 per share, for a total transaction of $108,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 73.20% of the company’s stock.

Several research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of RPC from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Goldman Sachs Group initiated coverage on RPC in a report on Sunday, March 10th. They issued a “sell” rating and a $10.00 price objective on the stock. Barclays downgraded RPC from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $13.00 to $8.00 in a report on Tuesday, January 15th. Seaport Global Securities upgraded RPC from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a report on Tuesday, January 29th. Finally, ValuEngine upgraded RPC from a “strong sell” rating to a “sell” rating in a report on Saturday, January 19th. Eight analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $12.69.

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RPC Company Profile

RPC, Inc, through its subsidiaries, provides 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 offers pressure pumping, fracturing, acidizing, 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.

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Earnings History for RPC (NYSE:RES)

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