Research Analysts Issue Forecasts for RPC, Inc.’s FY2017 Earnings (NYSE:RES)
RPC, Inc. (NYSE:RES) – SunTrust Banks increased their FY2017 earnings per share estimates for RPC in a research note issued on Wednesday. SunTrust Banks analyst K. Sill now expects that the oil and gas company will post earnings of $0.80 per share for the year, up from their prior estimate of $0.78.
RPC (NYSE:RES) last issued its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.06. The business had revenue of $399 million for the quarter, compared to analysts’ expectations of $415.65 million. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The company’s quarterly revenue was up 179.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.23) EPS.
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A number of other research analysts also recently weighed in on RES. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price target on shares of RPC in a research note on Thursday, April 6th. BMO Capital Markets started coverage on RPC in a research note on Wednesday, April 12th. They issued an “outperform” rating and a $24.00 price target on the stock. Wolfe Research downgraded RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research note on Monday, April 17th. Seaport Global Securities downgraded RPC from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $20.00 in a research note on Wednesday, June 21st. Finally, Morgan Stanley cut their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 21st. Eleven investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. RPC has an average rating of “Hold” and a consensus price target of $22.91.
Shares of RPC (NYSE RES) traded down 0.09% during trading on Friday, hitting $21.41. The company had a trading volume of 520,220 shares. The firm has a 50 day moving average of $20.28 and a 200 day moving average of $19.70. RPC has a 12-month low of $13.49 and a 12-month high of $23.36. The stock’s market cap is $4.66 billion.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be paid a $0.06 dividend. This is an increase from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, August 8th. RPC’s dividend payout ratio (DPR) is -83.32%.
A number of large investors have recently modified their holdings of RES. Flinton Capital Management LLC increased its stake in shares of RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 3,392 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 4,664 shares during the period. Pacer Advisors Inc. increased its stake in shares of RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 1,830 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 3,048 shares during the period. Finally, Bbva Compass Bancshares Inc. purchased a new stake in shares of RPC during the second quarter valued at about $219,000. Institutional investors and hedge funds own 40.26% 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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