$527.61 Million in Sales Expected for RPC, Inc. (RES) This Quarter
Equities research analysts expect RPC, Inc. (NYSE:RES) to report sales of $527.61 million for the current quarter, according to Zacks. Seven analysts have issued estimates for RPC’s earnings, with estimates ranging from $492.20 million to $588.00 million. RPC reported sales of $221.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 138.7%. The company is expected to issue its next quarterly earnings report on Wednesday, January 24th.
According to Zacks, analysts expect that RPC will report full-year sales of $527.61 million for the current year, with estimates ranging from $1.65 billion to $1.78 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.21 billion per share, with estimates ranging from $1.79 billion to $2.52 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow RPC.
RPC (NYSE:RES) last posted its quarterly 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). RPC had a return on equity of 10.51% and a net margin of 6.03%. 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 company posted ($0.18) earnings per share. The firm’s quarterly revenue was up 167.8% compared to the same quarter last year.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of RPC from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, October 17th. Cowen and Company set a $24.00 target price on shares of RPC and gave the company a “hold” rating in a report on Friday, October 6th. Jefferies Group LLC set a $25.00 target price on shares of RPC and gave the company a “hold” rating in a report on Thursday. Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. lowered shares of RPC from a “strong-buy” rating to an “outperform” rating in a report on Thursday. Fourteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $23.71.
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RPC (NYSE:RES) traded up 1.58% on Monday, reaching $23.79. The company had a trading volume of 656,112 shares. The company’s 50 day moving average is $23.03 and its 200-day moving average is $20.40. The firm’s market capitalization is $5.17 billion. RPC has a one year low of $16.48 and a one year high of $25.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be issued a $0.07 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.28 annualized dividend and a yield of 1.20%. This is an increase from RPC’s previous quarterly dividend of $0.06. RPC’s dividend payout ratio is currently 28.95%.
A number of institutional investors have recently modified their holdings of RES. UBS Asset Management Americas Inc. boosted its holdings in RPC by 48.9% in the 1st quarter. UBS Asset Management Americas Inc. now owns 43,792 shares of the oil and gas company’s stock worth $802,000 after buying an additional 14,380 shares during the period. JPMorgan Chase & Co. lifted its stake in RPC by 5.7% in the 1st quarter. JPMorgan Chase & Co. now owns 291,933 shares of the oil and gas company’s stock worth $5,345,000 after purchasing an additional 15,828 shares in the last quarter. Prudential Financial Inc. lifted its stake in RPC by 96.7% in the 1st quarter. Prudential Financial Inc. now owns 33,620 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 16,530 shares in the last quarter. Wellington Management Group LLP lifted its stake in RPC by 348.7% in the 1st quarter. Wellington Management Group LLP now owns 104,788 shares of the oil and gas company’s stock worth $1,919,000 after purchasing an additional 81,434 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in RPC by 110.0% in the 1st quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 12,747 shares in the last quarter. 38.13% of the stock is owned by institutional investors.
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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