$0.33 EPS Expected for RPC, Inc. (RES) This Quarter

Wall Street brokerages predict that RPC, Inc. (NYSE:RES) will report earnings per share (EPS) of $0.33 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for RPC’s earnings, with estimates ranging from $0.31 to $0.36. RPC posted earnings per share of ($0.10) during the same quarter last year, which would suggest a positive year-over-year growth rate of 430%. The company is scheduled to issue its next earnings results before the market opens on Wednesday, January 24th.

According to Zacks, analysts expect that RPC will report full year earnings of $0.81 per share for the current year, with EPS estimates ranging from $0.76 to $0.85. For the next year, analysts expect that the company will post earnings of $1.57 per share, with EPS estimates ranging from $1.39 to $1.95. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow RPC.

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

A number of equities analysts have recently issued reports on RES shares. Jefferies Group downgraded shares of RPC from a “buy” rating to a “hold” rating and set a $26.00 price target for the company. in a report on Thursday, October 5th. Citigroup increased their price target on shares of RPC from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 5th. Cowen set a $24.00 price target on shares of RPC and gave the company a “hold” rating in a report on Friday, October 6th. Deutsche Bank initiated coverage on shares of RPC in a report on Tuesday, October 10th. They set a “hold” rating and a $25.00 target price for the company. Finally, Credit Suisse Group downgraded shares of 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. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. RPC currently has a consensus rating of “Hold” and an average price target of $25.03.

RPC (NYSE:RES) opened at $26.17 on Friday. The stock has a market cap of $5,564.09, a PE ratio of 68.87, a PEG ratio of 0.91 and a beta of 1.15. RPC has a twelve month low of $16.63 and a twelve month high of $27.07.

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Friday, November 10th were paid a dividend of $0.07 per share. This is a boost from RPC’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 9th. RPC’s dividend payout ratio (DPR) is currently 73.69%.

In other news, Director Amy Rollins Kreisler purchased 5,000 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were bought at an average cost of $23.21 per share, with a total value of $116,050.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 73.50% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Alliancebernstein L.P. boosted its position in shares of RPC by 58.4% in the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after acquiring an additional 3,333,619 shares during the last quarter. Vanguard Group Inc. lifted its position in RPC by 20.4% during the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after buying an additional 1,028,001 shares in the last quarter. Victory Capital Management Inc. lifted its position in RPC by 244.9% during the third quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock valued at $51,239,000 after buying an additional 1,467,661 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in RPC during the third quarter valued at approximately $47,921,000. Finally, Van ECK Associates Corp acquired a new position in RPC during the third quarter valued at approximately $36,128,000. 38.07% of the stock is currently owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for RPC (NYSE:RES)

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