$524.29 Million in Sales Expected for RPC, Inc. (RES) This Quarter

Equities analysts expect that RPC, Inc. (NYSE:RES) will report sales of $524.29 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for RPC’s earnings, with estimates ranging from $502.87 million to $588.00 million. RPC posted sales of $221.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 137.2%. The company is expected to announce its next earnings report on Wednesday, January 24th.

According to Zacks, analysts expect that RPC will report full-year sales of $524.29 million for the current fiscal year, with estimates ranging from $1.66 billion to $1.78 billion. For the next year, analysts expect that the business will report sales of $2.29 billion per share, with estimates ranging from $2.09 billion to $2.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover RPC.

RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.03). RPC had a net margin of 6.03% and a return on equity of 10.31%. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. During the same period last year, the business earned ($0.18) EPS. The company’s revenue was up 167.8% compared to the same quarter last year.

RES has been the topic of several recent research reports. Jefferies Group set a $25.00 price objective on RPC and gave the company a “hold” rating in a report on Thursday, October 26th. Morgan Stanley downgraded RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a report on Tuesday, November 14th. They noted that the move was a valuation call. Credit Suisse Group downgraded RPC from an “outperform” rating to a “neutral” rating in a report on Friday, October 13th. They noted that the move was a valuation call. Barclays initiated coverage on RPC in a report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price objective on the stock. Finally, Raymond James Financial downgraded RPC from a “strong-buy” rating to an “outperform” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. RPC has an average rating of “Hold” and a consensus price target of $24.23.

In other RPC news, Director Amy Rollins Kreisler acquired 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was purchased at an average cost of $23.21 per share, with a total value of $116,050.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $116,050. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 73.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Commerce Bank raised its position in shares of RPC by 4.4% in the 2nd quarter. Commerce Bank now owns 659,446 shares of the oil and gas company’s stock worth $13,328,000 after acquiring an additional 27,686 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of RPC by 12.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 186,991 shares of the oil and gas company’s stock worth $3,779,000 after acquiring an additional 20,832 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of RPC by 16.5% in the 2nd quarter. Victory Capital Management Inc. now owns 599,280 shares of the oil and gas company’s stock worth $12,111,000 after acquiring an additional 84,880 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of RPC by 11.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 340,267 shares of the oil and gas company’s stock worth $6,877,000 after acquiring an additional 34,317 shares in the last quarter. Finally, HAP Trading LLC bought a new position in shares of RPC in the 3rd quarter worth about $419,000. 38.10% of the stock is owned by hedge funds and other institutional investors.

RPC (RES) traded up $0.83 during midday trading on Monday, hitting $24.87. The company had a trading volume of 874,600 shares, compared to its average volume of 1,740,833. RPC has a 12 month low of $16.63 and a 12 month high of $26.45. The firm has a market cap of $5,386.49, a P/E ratio of 63.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.14.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, November 9th. This is an increase from RPC’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.13%. RPC’s payout ratio is presently 73.69%.

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About RPC

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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