RPC, Inc. (NYSE:RES) – Analysts at Jefferies Group issued their Q1 2018 EPS estimates for shares of RPC in a report issued on Thursday. Jefferies Group analyst B. Handler anticipates that the oil and gas company will post earnings of $0.42 per share for the quarter. Jefferies Group has a “Hold” rating and a $26.00 price objective 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.
RES has been the topic of a number of other research reports. Barclays PLC started coverage on shares of RPC in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 target price on the stock. Morgan Stanley decreased their target price on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Cowen and Company restated a “hold” rating and set a $24.00 target price on shares of RPC in a research report on Friday, September 1st. Citigroup Inc. increased their target price on shares of RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $23.26.
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RPC (RES) opened at 23.09 on Friday. The company’s market cap is $5.02 billion. RPC has a 52 week low of $16.48 and a 52 week high of $25.00. The firm’s 50-day moving average is $21.62 and its 200-day moving average is $19.91.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company’s revenue for the quarter was up 179.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) earnings per share.
The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Tuesday, August 8th. This is an increase from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio is -183.30%.
Several institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. lifted its stake in RPC by 58.4% in the 2nd quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock valued at $182,713,000 after purchasing an additional 3,333,619 shares during the last quarter. Vanguard Group Inc. lifted its stake in RPC by 20.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in RPC by 0.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock valued at $43,807,000 after purchasing an additional 16,785 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in RPC in the 1st quarter valued at approximately $28,788,000. Finally, Marshall Wace North America L.P. bought a new position in RPC in the 1st quarter valued at approximately $28,788,000. 38.17% 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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