RPC (NYSE:RES) Posts Quarterly Earnings Results, Misses Expectations By $0.01 EPS

by · The Cerbat Gem

RPC (NYSE:RES – Get Free Report) issued its quarterly earnings data on Tuesday. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.01), FiscalAI reports. RPC had a return on equity of 5.58% and a net margin of 3.12%.The business had revenue of $425.78 million for the quarter, compared to analysts’ expectations of $423.30 million.

RPC Stock Down 0.5%

Shares of NYSE RES opened at $6.62 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.31 and a current ratio of 2.78. RPC has a 1 year low of $4.10 and a 1 year high of $6.85. The stock’s 50-day simple moving average is $5.83 and its 200-day simple moving average is $5.15. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 28.77 and a beta of 0.63.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be paid a dividend of $0.04 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.4%. RPC’s dividend payout ratio (DPR) is currently 69.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on RES shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Wall Street Zen raised shares of RPC from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Susquehanna boosted their target price on RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Citigroup raised their price target on shares of RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Piper Sandler reissued an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $5.25.

Get Our Latest Stock Report on RES

Hedge Funds Weigh In On RPC

A number of hedge funds have recently added to or reduced their stakes in RES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in RPC by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after acquiring an additional 2,190 shares during the period. Mariner LLC grew its stake in RPC by 3.3% during the 3rd quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after buying an additional 2,446 shares during the last quarter. Baird Financial Group Inc. lifted its stake in RPC by 0.9% in the second quarter. Baird Financial Group Inc. now owns 396,393 shares of the oil and gas company’s stock valued at $1,875,000 after buying an additional 3,542 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of RPC by 220.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 4,495 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of RPC by 1.1% during the first quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company’s stock worth $2,994,000 after acquiring an additional 5,914 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Company Profile

(Get Free Report)

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.

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