Research Analysts Issue Forecasts for RPC, Inc.’s Q2 2017 Earnings (RES)
RPC, Inc. (NYSE:RES) – Equities researchers at SunTrust Banks boosted their Q2 2017 earnings per share (EPS) estimates for shares of RPC in a note issued to investors on Wednesday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will earn $0.13 per share for the quarter, up from their prior estimate of $0.04. SunTrust Banks also issued estimates for RPC’s Q3 2017 earnings at $0.27 EPS, Q4 2017 earnings at $0.37 EPS, FY2017 earnings at $0.78 EPS and Q4 2018 earnings at $0.51 EPS.
A number of other research analysts also recently commented on the company. Jefferies Group LLC set a $26.00 price target on RPC and gave the company a “buy” rating in a report on Wednesday, May 17th. Wolfe Research downgraded RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price target for the company. in a report on Monday, April 17th. BMO Capital Markets began coverage on RPC in a report on Wednesday, April 12th. They issued an “outperform” rating and a $24.00 price target for the company. Zacks Investment Research raised RPC from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, March 29th. Finally, Tudor Pickering began coverage on RPC in a report on Thursday, March 23rd. They issued a “buy” rating for the company. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. RPC presently has a consensus rating of “Buy” and an average target price of $23.00.
Shares of RPC (NYSE:RES) opened at 20.03 on Monday. The stock’s market cap is $4.36 billion. The company’s 50-day moving average price is $18.44 and its 200 day moving average price is $19.43. RPC has a 1-year low of $13.50 and a 1-year high of $23.36.
RPC (NYSE:RES) last posted its earnings results on Wednesday, April 26th. The oil and gas company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $298.12 million during the quarter, compared to analysts’ expectations of $273.35 million. RPC had a negative return on equity of 16.10% and a negative net margin of 19.38%. The firm’s revenue was up 57.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.15) earnings per share.
A number of hedge funds have recently bought and sold shares of RES. Goldman Sachs Group Inc. boosted its stake in RPC by 142.4% in the first quarter. Goldman Sachs Group Inc. now owns 465,621 shares of the oil and gas company’s stock valued at $8,526,000 after buying an additional 273,554 shares in the last quarter. Tudor Investment Corp ET AL boosted its stake in RPC by 43.5% in the first quarter. Tudor Investment Corp ET AL now owns 28,079 shares of the oil and gas company’s stock valued at $514,000 after buying an additional 8,506 shares in the last quarter. AQR Capital Management LLC boosted its stake in RPC by 41.3% in the first quarter. AQR Capital Management LLC now owns 496,471 shares of the oil and gas company’s stock valued at $9,090,000 after buying an additional 145,184 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in RPC during the first quarter valued at approximately $612,000. Finally, State Street Corp boosted its stake in RPC by 1.6% in the first quarter. State Street Corp now owns 1,293,210 shares of the oil and gas company’s stock valued at $23,675,000 after buying an additional 20,578 shares in the last quarter. Hedge funds and other institutional investors own 37.31% of the company’s stock.
RPC Company Profile
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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