Analysts Expect RPC, Inc. (NYSE:RES) Will Announce Quarterly Sales of $205.96 Million

Analysts expect RPC, Inc. (NYSE:RES) to announce $205.96 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for RPC’s earnings. The lowest sales estimate is $199.15 million and the highest is $216.60 million. RPC posted sales of $89.30 million in the same quarter last year, which suggests a positive year over year growth rate of 130.6%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, August 4th.

According to Zacks, analysts expect that RPC will report full year sales of $817.06 million for the current year, with estimates ranging from $779.05 million to $856.00 million. For the next year, analysts expect that the firm will report sales of $956.29 million, with estimates ranging from $902.93 million to $1.07 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover RPC.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 28th. The oil and gas company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.01). RPC had a negative net margin of 11.44% and a negative return on equity of 9.25%. The company had revenue of $182.60 million during the quarter, compared to analyst estimates of $163.04 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 25.1% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of RPC from $3.50 to $4.00 and gave the company an “underweight” rating in a research note on Thursday, March 25th. Citigroup lifted their price objective on shares of RPC from $3.00 to $3.50 in a research note on Wednesday, February 17th.

Shares of NYSE RES traded up $0.06 during mid-day trading on Tuesday, reaching $5.78. 7,207 shares of the company traded hands, compared to its average volume of 1,058,589. RPC has a fifty-two week low of $2.23 and a fifty-two week high of $7.43. The company has a fifty day moving average of $5.33. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of -19.30 and a beta of 2.12.

In related news, Director Gary W. Rollins sold 34,000 shares of the stock in a transaction that occurred on Monday, June 7th. The shares were sold at an average price of $6.05, for a total value of $205,700.00. Following the transaction, the director now directly owns 5,199,461 shares in the company, valued at $31,456,739.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Lor Inc sold 300,000 shares of the stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $5.72, for a total transaction of $1,716,000.00. Following the sale, the insider now directly owns 82,880,924 shares of the company’s stock, valued at approximately $474,078,885.28. The disclosure for this sale can be found here. In the last three months, insiders sold 2,707,309 shares of company stock worth $14,898,740. 69.00% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in shares of RPC by 4.5% during the 1st quarter. BlackRock Inc. now owns 9,782,089 shares of the oil and gas company’s stock valued at $52,823,000 after purchasing an additional 422,723 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of RPC by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,318,365 shares of the oil and gas company’s stock valued at $23,317,000 after purchasing an additional 72,290 shares during the last quarter. Van ECK Associates Corp boosted its position in RPC by 8.8% during the 1st quarter. Van ECK Associates Corp now owns 3,535,101 shares of the oil and gas company’s stock worth $19,090,000 after buying an additional 285,044 shares during the period. Victory Capital Management Inc. boosted its position in RPC by 14,040.1% during the 1st quarter. Victory Capital Management Inc. now owns 2,190,583 shares of the oil and gas company’s stock worth $11,829,000 after buying an additional 2,175,091 shares during the period. Finally, THB Asset Management boosted its position in RPC by 55.2% during the 4th quarter. THB Asset Management now owns 1,197,400 shares of the oil and gas company’s stock worth $3,771,000 after buying an additional 426,084 shares during the period. 24.61% of the stock is currently owned by hedge funds and other institutional investors.

About RPC

RPC, Inc, through its subsidiaries, provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.

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Earnings History and Estimates for RPC (NYSE:RES)

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