Equities research analysts expect RPC, Inc. (NYSE:RES) to announce earnings of $0.30 per share for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for RPC’s earnings. The highest EPS estimate is $0.36 and the lowest is $0.26. RPC reported earnings of $0.01 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 2,900%. The business is expected to announce its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that RPC will report full-year earnings of $1.65 per share for the current year, with EPS estimates ranging from $1.45 to $1.90. For the next financial year, analysts forecast that the firm will post earnings of $1.95 per share, with EPS estimates ranging from $1.69 to $2.50. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover RPC.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.16). The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS.
Several brokerages recently commented on RES. Guggenheim set a $25.00 price target on shares of RPC and gave the company a “buy” rating in a research report on Monday, January 29th. Credit Suisse Group reduced their price target on shares of RPC from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Wells Fargo & Co reduced their price target on shares of RPC from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. BMO Capital Markets reduced their price target on shares of RPC from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. Finally, B. Riley set a $27.00 price target on shares of RPC and gave the company a “hold” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $24.85.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in RPC by 3.8% in the 4th quarter. BlackRock Inc. now owns 3,022,697 shares of the oil and gas company’s stock valued at $77,170,000 after buying an additional 111,534 shares during the period. Victory Capital Management Inc. increased its stake in shares of RPC by 244.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock worth $51,239,000 after purchasing an additional 1,467,661 shares during the last quarter. Mackenzie Financial Corp increased its stake in shares of RPC by 25.1% during the 4th quarter. Mackenzie Financial Corp now owns 2,038,483 shares of the oil and gas company’s stock worth $52,042,000 after purchasing an additional 408,900 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of RPC during the 3rd quarter worth $47,921,000. Finally, Copper Rock Capital Partners LLC increased its stake in shares of RPC by 3.6% during the 4th quarter. Copper Rock Capital Partners LLC now owns 1,645,244 shares of the oil and gas company’s stock worth $41,855,000 after purchasing an additional 57,072 shares during the last quarter. Hedge funds and other institutional investors own 35.80% of the company’s stock.
Shares of RPC (NYSE:RES) opened at $19.98 on Friday. The company has a market cap of $4,268.91, a P/E ratio of 26.64, a P/E/G ratio of 0.66 and a beta of 0.73. RPC has a 12-month low of $16.63 and a 12-month high of $27.07.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, February 8th. This is a positive change from RPC’s previous quarterly dividend of $0.07. RPC’s dividend payout ratio is currently 53.33%.
RPC declared that its board has authorized a stock buyback plan on Monday, February 12th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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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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