RPC, Inc. (NYSE:RES) – Seaport Global Securities dropped their Q1 2018 earnings estimates for shares of RPC in a report released on Wednesday. Seaport Global Securities analyst M. Brown now expects that the oil and gas company will post earnings per share of $0.25 for the quarter, down from their prior estimate of $0.29. Seaport Global Securities has a “Neutral” rating and a $20.00 price target on the stock. Seaport Global Securities also issued estimates for RPC’s Q2 2018 earnings at $0.26 EPS, Q3 2018 earnings at $0.28 EPS, Q4 2018 earnings at $0.31 EPS, FY2018 earnings at $1.11 EPS and FY2019 earnings at $1.35 EPS.
RPC (NYSE:RES) last issued 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 business had revenue of $298.12 million for the quarter, compared to analyst estimates of $273.35 million. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The business’s quarterly revenue was up 57.7% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS.
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Other equities research analysts have also issued research reports about the stock. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the company a “buy” rating in a research note on Saturday, June 17th. Zacks Investment Research raised shares of RPC from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, March 29th. Tudor Pickering started coverage on shares of RPC in a research note on Thursday, March 23rd. They set a “buy” rating for the company. FBR & Co reissued a “buy” rating and set a $24.00 target price on shares of RPC in a research note on Sunday, March 12th. Finally, Morgan Stanley decreased their target price on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $22.81.
RPC (RES) opened at 18.79 on Friday. The company has a 50 day moving average price of $19.22 and a 200 day moving average price of $19.74. RPC has a 12 month low of $13.49 and a 12 month high of $23.36. The stock’s market capitalization is $4.09 billion.
Several large investors have recently added to or reduced their stakes in RES. Flinton Capital Management LLC raised its stake in 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 last quarter. Elkfork Partners LLC acquired a new stake in RPC during the fourth quarter valued at about $164,000. Meadow Creek Investment Management LLC raised its stake in 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 last quarter. Pacer Advisors Inc. raised its stake in 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 last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in 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 last quarter. 39.92% of the stock is owned by institutional investors and hedge funds.
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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