Research Analysts Issue Forecasts for RPC, Inc.’s Q1 2018 Earnings (RES)
RPC, Inc. (NYSE:RES) – Research analysts at Jefferies Group issued their Q1 2018 earnings per share estimates for shares of RPC in a report issued on Thursday. Jefferies Group analyst B. Handler forecasts that the oil and gas company will earn $0.42 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $26.00 target price on the stock. Jefferies Group also issued estimates for RPC’s Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.46 EPS and Q4 2018 earnings at $0.47 EPS.
A number of other equities analysts have also commented on RES. Seaport Global Securities reaffirmed a “neutral” rating on shares of RPC in a research note on Wednesday, July 26th. Cowen and Company reissued a “hold” rating and issued a $24.00 price target on shares of RPC in a research note on Friday, September 1st. Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $20.50 target price (up from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Finally, Morgan Stanley lowered their target price on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.26.
RPC (RES) traded down 1.92% on Friday, reaching $23.52. 135,777 shares of the company’s stock were exchanged. RPC has a 52 week low of $16.48 and a 52 week high of $25.00. The company’s market cap is $5.11 billion. The stock’s 50 day moving average is $21.49 and its 200 day moving average is $19.87.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The business had revenue of $399.00 million for the quarter, compared to the consensus estimate of $415.65 million. During the same quarter in the prior year, the company earned ($0.23) EPS. The firm’s quarterly revenue was up 179.0% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were issued a $0.06 dividend. The ex-dividend date was Tuesday, August 8th. This represents a $0.24 annualized dividend and a dividend yield of 1.00%. This is a positive change from RPC’s previous quarterly dividend of $0.05. RPC’s payout ratio is presently -183.30%.
A number of large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC grew its holdings in RPC by 15.9% during the second quarter. Advisory Services Network LLC now owns 13,028 shares of the oil and gas company’s stock valued at $263,000 after purchasing an additional 1,790 shares during the period. Sterling Capital Management LLC lifted its position in shares of RPC by 57.0% in the second quarter. Sterling Capital Management LLC now owns 162,749 shares of the oil and gas company’s stock valued at $3,289,000 after acquiring an additional 59,109 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of RPC by 168.9% in the second quarter. Susquehanna International Group LLP now owns 15,100 shares of the oil and gas company’s stock valued at $305,000 after acquiring an additional 37,000 shares in the last quarter. 361 Capital LLC purchased a new position in shares of RPC in the second quarter valued at about $4,043,000. Finally, The Manufacturers Life Insurance Company lifted its position in shares of RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 459 shares in the last quarter. 38.17% of the stock is owned by institutional investors and hedge funds.
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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