RPC, Inc. (NYSE:RES) – Analysts at Jefferies Group cut their FY2018 earnings per share estimates for shares of RPC in a research note issued on Thursday. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will post earnings of $1.65 per share for the year, down from their prior estimate of $1.80. Jefferies Group currently has a “Hold” rating and a $25.00 target price on the stock. Jefferies Group also issued estimates for RPC’s FY2019 earnings at $2.00 EPS.
RPC (NYSE:RES) last announced its earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $474.41 million. RPC had a net margin of 6.03% and a return on equity of 10.51%. RPC’s quarterly revenue was up 167.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.18) earnings per share.
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Other equities analysts have also issued reports about the stock. Piper Jaffray Companies restated a “neutral” rating and set a $20.50 price target (up from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Cowen and Company boosted their price target on shares of RPC from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Seaport Global Securities restated a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Finally, Barclays PLC began coverage on shares of RPC in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price target on the stock. Fourteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. RPC has a consensus rating of “Hold” and a consensus target price of $23.71.
Shares of RPC (NYSE:RES) traded up 1.24% during midday trading on Monday, reaching $23.71. 47,067 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $23.03 and its 200 day moving average is $20.40. RPC has a one year low of $16.48 and a one year high of $25.00. The firm’s market cap is $5.15 billion.
Several institutional investors have recently added to or reduced their stakes in the company. Alliancebernstein L.P. increased its stake in RPC by 58.4% during the 2nd quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after buying an additional 3,333,619 shares during the period. Vanguard Group Inc. increased its stake in RPC by 20.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock worth $122,802,000 after buying an additional 1,028,001 shares during the period. Bank of New York Mellon Corp increased its stake in RPC by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock worth $43,807,000 after buying an additional 16,785 shares during the period. Victory Capital Management Inc. increased its stake in RPC by 244.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock worth $51,239,000 after buying an additional 1,467,661 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in RPC by 0.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,526,110 shares of the oil and gas company’s stock worth $27,941,000 after buying an additional 8,416 shares during the period. 38.13% of the stock is currently owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from RPC’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 9th. RPC’s payout ratio is 28.95%.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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