RPC, Inc. Announces First Quarter 2023 Share Repurchases
RPC, Inc. (NYSE: RES) reported the repurchase of 1,132,364 shares totaling approximately $9.0 million in the first quarter of 2023.
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Rhea-AI Summary
RPC, Inc. (NYSE: RES) reported the repurchase of 1,132,364 shares totaling approximately $9.0 million in the first quarter of 2023. This strategic buyback reflects RPC’s commitment to enhancing shareholder value through its share repurchase program. The company provides specialized oilfield services and equipment to major oilfield companies across the U.S. and selected markets internationally. The repurchase is expected to positively impact the earnings per share (EPS) and demonstrate confidence in the company's financial health.
Positive
- Repurchased 1,132,364 shares for approximately $9.0 million, enhancing shareholder value.
- Demonstration of confidence in the company's financial health through share buybacks.
Negative
- None.
Details
News Market Reaction – RES
The recorded move for RES in the trading session of this news was +7.41%.
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AI-generated analysis. How Rhea-AI works. Not financial advice.
ATLANTA, April 3, 2023 /PRNewswire/ -- RPC, Inc. (NYSE: RES) announced today that during the first quarter of 2023 it purchased 1,132,364 shares for approximately
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found on the internet at RPC.net.
For information about RPC, Inc. or this event, please contact:
Michael L. Schmit
Chief Financial Officer
(404) 321-2140
irdept@rpc.net
Jim Landers
Vice President Corporate Services
(404) 321-2162
jlanders@rpc.net
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SOURCE RPC, Inc.
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